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Oil rebounds but ends week lower as OPEC cuts disappoint

Mimi Sabreena 7:22:00 AM Informasi

NEW YORK (May 27): Oil prices rebounded to rise more than 1 percent on Friday, but Brent crude ended the week nearly 3 percent lower after an OPEC-led decision to extend production curbs did not go as far as many investors had hoped.

Trading was light after Thursday's heavy sell-off and ahead of the long weekend break in the United States and Britain.

Brent futures settled up 69 cents to $52.15 a barrel, or 1.3 percent, after hitting a session low of $50.71.

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