Boost to Tight Market Oil headed for a sixth weekly advance after a keenly anticipated OPEC+ meeting delivered only a modest increase in output that failed to assuage concerns over a widening supply deficit. The producer cartel agreed to a hike that amounts to just 0.4% of global demand over July and August. There had been speculation the Saudis were preparing to pump significantly more as part of a reset of relations with the US, and there were even suggestions that Russia might be exempted from the alliance’s monthly supply agreements. That didn’t happen, with West Texas Intermediate closing up 1.4% after the decision and trading near $116 a barrel in Asia on Friday. A six-month long rally in the US […]