Oil prices are set to close out the week slightly down, although WTI and Brent regained some lost ground on Thursday. Oil traders are trying to balance two competing narratives. The first is that rising OPEC production and a growing global trade war will cause a demand surplus. The second, that strong demand and an increasing amount of supply disruptions will lead to a shortage of oil in global markets. OPEC production jumped 340,000 bpd in July. OPEC boosted production by 340,000 bpd in July, as several members of the group ramped up output. Saudi production jumped to 10.63 million barrels per day (mb/d), close to a record high, according to S&P Global […]