After climbing for two weeks, oil prices are set to post a weekly loss this week as new inflation data in the U.S. highlighted looming economic problems. The OPEC+ decision to cut its production target by 2 million bpd sent oil prices notably higher, but high oil prices will only add to economic headwinds. Despite the bearish economic data, tight supply and falling diesel inventories will provide plenty of upward pressure for oil prices going forward. Crude oil prices are on course to post a loss this week despite the recent spike after OPEC+ approved a production cut that is expected to reduce oil supply by roughly 1 million bpd. After a drop of over 1 percent on Thursday, following the release of fresh U.S. inflation data, oil prices were on the mend at the time of writing, but expectations are for a 4-percent weekly decline in West Texas […]