WTI oil dropped nearly 1% this morning. Markets keep an eye on OPEC+ meeting: InfoQuest

WTI oil prices fell this morning. Meanwhile, investors keep an eye on the oil production policy meeting of the Organization of the Petroleum Exporting Countries (OPEC) and allied nations. or OPEC Plus on this Friday

• At 10:37 a.m. Thai time, the West Texas Crude Oil Contract (WTI) will be delivered in December. dropped 73 cents or -0.97% to 74.81 dollars/barrel.

OPEC+ has announced the postponement of the meeting to 30 Nov. from the original 25-26 Nov. without specifying any reasons. This has raised concerns about conflicts in OPEC+ production policy.

Bloomberg news agency reported citing sources that The meeting encountered problems. This is because Saudi Arabia has expressed its dissatisfaction with the violation of oil production agreements by several members.

Moreover, oil prices were pressured by the release of larger-than-expected increases in US crude oil stocks last week. Including the forecast of sluggish oil demand from China. Amid the collapse of the real estate sector in the country which will drag down the amount of diesel fuel used

By InfoQuest News Agency (27 Nov. ’23)

Tags: WTI, WTI oil, oil price