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Crude Oil News Today: Will OPEC+ Extend Production Cuts to Stabilize Prices?
Oil prices have reached their lowest in almost three months, with significant declines observed in both U.S. West Texas Intermediate (WTI) and Brent crude. This downturn reflects a blend of increasing supply, subdued demand, and challenging economic indicators, all of which contribute to a bearish outlook for the near future. Last week, Light Crude Oil Futures settled at $78.11, down $5.74 or -6.85%. chart Economic Indicators and Market Impact The oil markets suffered their steepest weekly losses in three months, prompted by disappointing U.S. job data and uncertainty surrounding Federal Reserve interest rate ... (full story)