Oil prices finished slightly higher on Friday after a broad slowdown in U.S. inflation helped offset concerns about rising supply and signs that OPEC+ members are considering stepping up production. Brent crude futures rose 23 cents, or about 0.3%, to $67.75 a barrel, while U.S. West Texas Intermediate edged up 5 cents, or 0.1%, to $62.89. Both contracts nonetheless posted weekly declines after dropping nearly 3% earlier in the week.
Market sentiment was buoyed by U.S. inflation data showing consumer prices rose less than expected in January, easing pressure on interest rates and potentially supporting broader economic demand for energy. Investors interpreted the data as possibly delaying rate hikes or even eventually encouraging rate cuts, which can underpin crude prices by supporting growth and fuel consumption.
However, earlier in the session prices had fallen on a Reuters report that OPEC+ is leaning toward resuming oil output increases from April, as the group balances expectations of stronger summer demand against ample global inventories. That prospect highlighted the risk of rising supply at a time when geopolitical tensions have eased somewhat from earlier in the month.
On the supply side, developments continue to unfold: the United States has eased sanctions on Venezuela’s energy sector, allowing major international companies to resume operations and potentially increase exports, while Venezuelan shipments are expected to ramp up and add to global crude flows.
Overall, the market is navigating a mix of macroeconomic signals and shifting supply expectations, with demand prospects supported by softer inflation but supply concerns — including potential OPEC+ output increases and recovering Venezuelan exports — capping gains.
[ Due to Office Renovations there is no PDF for 2-13-2026 ]