The market has largely baked in a repeat of the large OPEC+ output cuts to be announced in each of the next two months. The next meeting is July 6 and a source familiar says Russia is open to supporting a further boost if the group deems it necessary.
At this point, the market is more mulling over price (post Israel-Iran) and output for October and beyond.
WTI crude was last up 73-cents to $65.09.
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