MARKET WATCH: Crude oil prices rebound by $2/bbl on OPEC forecast

The light, sweet crude oil price for August delivery rallied by more than $2/bbl on July 12 as did the Brent crude oil price on the London market. The Organization of Petroleum Exporting Countries issued a report July 12 saying non-OPEC production will fall more than OPEC previously expected.

Source: News