"Brent Crude Oil Holds Above $50 After OPEC Meeting"

"Brent oil prices held around $50 a barrel on Friday following an OPEC meeting that failed to agree on output targets, but which was seen as supportive as Saudi Arabia pledged not to flood the market with more fuel.

The Organization of the Petroleum Exporting Countries (OPEC) failed to agree to a clear oil-output strategy on Thursday as Iran insisted on raising production to regain market share lost during years of sanctions, which were lifted in January.

Analysts still took away positives from the meeting in Vienna, as Saudi Arabia showed restraint."

Henning Gloystein reports for Reuters June 3, 2016.

SEE ALSO:

"OPEC Fails to Reach Agreement on Oil Production Ceiling" (Wall Street Journal)

"Saudi Oil Chief Khalid al-Falih Tells OPEC Changes Are Coming" (New York Times)