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Oil Set for Weekly Gain as OPEC+ Considers Output Cut

Started by Epoch-Times-Bot, Sep 30, 2022, 07:49 AM

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Epoch-Times-Bot

Sep 30, 2022, 07:49 AM
Oil Set for Weekly Gain as OPEC+ Considers Output Cut

LONDON—Oil prices were on track for their first weekly gain in five on Friday, underpinned by a weaker dollar and the possibility that OPEC+ will agree to cut crude output when it meets on Oct. 5.
Brent crude futures for November, which expire on Friday, rose by 95 cents, or 1.07 percent, to $89.44 a barrel by 0948 GMT. The more active December contract was up 81 cents at $87.99.
U.S. West Texas Intermediate (WTI) crude futures rose 72 cents, or 0.89 percent, to $81.95.
Brent and WTI contracts rose by more than $1 earlier in the session and are poised for a weekly gain of about 4 percent. It would be the first weekly rise since August and follow nine-month lows hit earlier in the week....

Source: Oil Set for Weekly Gain as OPEC+ Considers Output Cut

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Aug 01, 2024, 08:53 PM
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