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Oil turns higher as OPEC stalls on quota targets

Oil turns higher as OPEC stalls on quota targets (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Crude-oil futures turned positive Wednesday as the meeting of the Organization of the Petroleum Exporting Countries meeting appeared mired in a stalemate between member countries that want to raise official output targets, putting pressure on prices, and those that do not. Crude for July delivery (cln11) added 59 cents, or 0.6%, to $99.71 a barrel on the New York Mercantile Exchange. OPEC members are scheduled to announce a decision during a press release scheduled to begin at 7 a.m. Eastern.

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Oil turns higher as OPEC stalls on quota targets