LONDON—Oil remained on track for weekly gains on Thursday, with further production cuts targeted by OPEC+ and a drop in U.S. oil inventories overshadowing fears over global economic growth.
Brent and U.S. crude have both gained more than 6 percent this week, heading for a third weekly gain after the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia—a group known as OPEC+— pledged surprise production cuts.
Crude dipped on Thursday, however, as weak U.S. economic data raised concern over economic growth. The U.S. services sector slowed more than expected in March and U.S. job openings in February dropped to their lowest in nearly two years….