Oil eked out a small gain in a choppy trading session with traders awaiting upcoming deliberations among OPEC+ producers that may lead to a supply hike. U.S. crude futures closed 0.3% higher after switching between small gains and losses on Thursday. Oil’s recent advance pushed the commodity into overbought territory earlier this week, signaling the rally may fade. When it meets next week, the producer alliance led by Saudi Arabia and Russia is widely expected to revive some more of its halted output, according to a Bloomberg survey. Nothing on the demand side has really changed and OPEC+ will likely increase output gradually, said Stewart Glickman, energy equity analyst at CFRA Research. “Given how disciplined they’ve been so far, I don’t think it’s going to be a free-for-all at this point.” Crude futures are up more […]