WTI Oil Prices Drop Ahead of OPEC+ Meeting
Byline: John Smith, Financial Correspondent
The WTI crude oil contract experienced a decline today, prompting investors to closely monitor the upcoming oil production policy meeting of the Organization of the Petroleum Exporting Countries (OPEC) and allied nations, also known as OPEC+.
Current Market Trends
- At 10:54 pm Thai time, the West Texas Crude Oil Contract (WTI) for December delivery, traded on the NYMEX market, fell 0.34% to $76.84 per barrel.
- OPEC+ has postponed its meeting from 25-26 November to 30 November, causing concerns about potential conflicts in production policy.
Additionally, oil prices are under pressure due to a larger-than-expected increase in US crude oil stocks last week and forecasts of sluggish oil demand in China. The collapse of the real estate sector in China is expected to affect the consumption of diesel fuel.
For further details, please refer to the original news article from InfoQuest.
WTI oil prices are falling, keeping an eye on next week’s OPEC+ meeting.
InfoQuest – The WTI crude oil contract fell today. Meanwhile, investors are keeping an eye on the oil production policy meeting of the Organization of the Petroleum Exporting Countries (OPEC) and allied nations. or OPEC Plus next week
At 10:54 pm Thai time, the West Texas Crude Oil Contract (WTI) will be delivered in December. which was traded on the NYMEX market, down 0.26 or 0.34% to 76.84 dollars / barrel.
OPEC+ announced that the meeting would be postponed until 30 November from the original 25-26 November without specifying any reasons. This has raised concerns about a conflict in OPEC+ production policy.
Furthermore, oil prices were pressured by the release of a larger-than-expected increase in US crude oil stocks last week. Including forecasts of sluggish oil demand in China. Amidst the collapse of the real estate sector in the country which will drag down the amount of diesel fuel used
Click to read the original news from InfoQuest.
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