Oil Prices Retreat as OPEC+ Meeting Looms Amid Supply Cut Speculations

FuelNuts & Bolts
Written By Jennifer Joslyn

Oil prices dipped ahead of the scheduled OPEC+ meeting where discussions about potential supply cuts were expected. Brent crude fell 0.5% to $81.91 a barrel, and U.S. West Texas Intermediate crude dropped 0.6% to $77.39 a barrel. The market saw some profit-taking as traders prepared for the OPEC+ meeting and the upcoming U.S. Thanksgiving holiday, with concerns about oversupply and slowing global economic growth continuing to impact oil prices.

Read more at Reuters >

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Jennifer Joslyn
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