"Oil Prices Turn Higher As OPEC Stands Firm"

WTI $58.28 up 28 cents; Brent $62.41 up 38 cents.
From the Wall Street Journal:

Market watchers expected oil producer group wouldn’t cut output

BREAKING:
*Saudi Oil Minister: Same OPEC Production Ceiling Will be Kept
*Brent, WTI Crude Oil Prices Turn Higher After Comments
(More to come)
EARLIER:
LONDON—Oil prices fell on Friday and held near their lowest levels in a week on expectations that OPEC will maintain its production target at its meeting later in the day.

The biannual meeting of the Organization of the Petroleum Exporting Countries comes at a pivotal time for the oil market. Prices have shot up by more than 30% in the past two months on expectations that the oversupplied global market will come into balance later in the year. But the rally has sputtered recently and prices have wavered between gains and losses in the past two weeks....MORE

 More to come.