MELBOURNE/SINGAPORE: Oil prices moved in a thin range on Friday as markets shrugged off the decision of OPEC+ to increase production and questioned whether the incremental output could make up for lost supply from Russia and meet China's growing demand amid easing COVID restrictions.
U.S. West Texas Intermediate (WTI) crude futures dropped 29 cents to $116.58 a barrel at 0408 GMT, while Brent crude futures were down 15 cents at $117.46 a barrel.
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