Shares of energy producers rose alongside oil futures as traders bet a meeting between the Organization of the Petroleum Exporting Countries officials and Russian counterparts in St. Petersburg would yield results. Saudi Arabia used the meeting to chastise other cartel members who are exceeding agreed production targets. "This emphasis on reaching 100% conformity marks a change of tact in which the impact of U.S. shale, which had previously been seen as the thorn in the side of its efforts to normalize oil stocks, was downplayed," said analysts at research firm PVM.
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(END) Dow Jones Newswires
July 25, 2017 17:27 ET (21:27 GMT)