New York—Oil settled higher June 18 as the market eyed a tightened supply outlook amid stepped-up efforts by the OPEC+ group to force compliance with production quotas. NYMEX July WTI settled 88 cents higher at $38.84/b, and ICE August Brent was up 80 cents on the day at $41.51/b. Saudi Arabia stepped up its campaign against OPEC+ quotas busters on June 18, giving producers who are failing to perform on their agreed output cuts just days to show how they will toe the line on oil production curbs.
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