New York (CNN Business) OPEC+ canceled a scheduled meeting Monday, dashing hopes for an agreement to increase production to satisfy the world's growing demand for oil. Oil prices climbed higher on the news. No new date for a meeting was set after the announcement that that meeting was canceled. "The date of the next meeting will be decided in due course," said the official statement. US oil prices finished above $75 a barrel on Thursday for the first time in nearly three years, and are now trading near $75.50.

Source: CNN July 05, 2021 17:15 UTC