Oil heads for third weekly gain after shock OPEC cuts ET Auto

Brent and U.S. crude have both gained more than 6% this week, heading for a third weekly gain after the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia – a group known as OPEC+ – pledged surprise production cuts. Oil remained on track for weekly gains on Thurday, with further production cuts targeted by OPEC+ and a drop in U.S. oil inventories overshadowing fears over global economic growth. Brent and U.S. crude have both gained more than 6% this week, heading for a third weekly gain after the Organization of the Petroleum Exporting Countries (OPEC) and allies…