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Oil Steadies After Two-Day Swing as Countdown to OPEC+ Begins
Oil steadied after a two-day swing as investors looked ahead to an OPEC+ meeting on supply that will shape market balances into 2024. Global benchmark Brent steadied below $81 a barrel after rallying by more than 4% on Friday following a plunge of a similar magnitude the day before. West Texas Intermediate traded near $76 after also having a volatile ride. The Organization of Petroleum Exporting Countries and its allies are scheduled to meet next weekend to review the global crude market and decide on priorities heading into the new year. With prices lower year-to-date after a run of four weekly losses, there’s ... (full story)
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- Posted: Nov 19, 2023 7:45pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 313
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