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Oil closes lower awaiting OPEC meeting
Oil prices fell at the end of trading today, Monday, as investors awaited the OPEC+ meeting later this week in order to make a decision on production during the year 2024.
At the end of the session, Brent crude futures for January delivery decreased at settlement by 0.74%, or the equivalent of 60 cents, to $79.98 per barrel, while US West Texas Intermediate crude contracts decreased by 0.9%, or 68 cents, to close at $74.86. per barrel...
Saudi Arabia and Russia have decided to extend the voluntary reduction in production until the end of this year, and OPEC+ may discuss plans to reduce production additionally.
However, prices declined recently after the OPEC+ meeting was postponed to November 30th after reports of disagreements over production targets for African countries.
