Brent crude futures were up 65 cents or 0.8% at $83.68 per barrel by 0132 GMT, while U.S. West Texas Intermediate crude futures rose 68 cents or 0.9% to $78.88 per barrel.
Helping to boost prices, U.S. crude oil stocks were expected to have dropped by about 7.9 million barrels in the week ended Nov. 25, according to market sources citing American Petroleum Institute figures on Tuesday. Gasoline inventories rose by about 2.9 million barrels, while distillate stocks were seen rising about 4.0 million barrels, according to the sources, who spoke on condition of anonymity.
OPEC+ is likely to keep oil output policy unchanged at a meeting on Sunday, five OPEC+ sources said, although two sources said an additional production cut was also likely to be considered, to support prices.The group meets as slowing economies and Chinese COVD-19 lockdowns hit oil demand, while a nearing European Union ban on Russian crude imports and a G7 price cap on Russian crude raises questions about supply.
Meanwhile, the International Energy Agency expects Russian crude production to be curtailed by some 2 million barrels of oil per day by the end of the first quarter next year, its chief, Fatih Birol, told Reuters.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crude Oil Weekly Forecast: Brent Dampened by China’s COVID, OPEC+ & U.S. Data to FollowBrent crude oil followed the drop off across the broader commodity complex as Chinese COVID cases continue to surge hurting demand forecasts. Get your market update from WVenketas here:
Source: DailyFX - 🏆 305. / 63 Read more »
‘Wednesday’ fans shocked to learn ‘90s Wednesday Addams is new character in Netflix seriesSome fans of Netflix's spooky new 'Wednesday' series are just now figuring out that one of the show's stars, Christina Ricci, played Wednesday Addams herself as a child star in the 1990s. That blows my mind that’s new information to some people. I thought that was so awesome when I saw Christina Ricci was cast. So full circle Wait till they see the Nixon mask scene in « The Ice Storm. » 🧊🔑👺
Source: TODAYshow - 🏆 389. / 55 Read more »
Wednesday Star Explains If Tyler Ever Truly Loved WednesdayWednesdayNetflix star Hunter Doohan explains the truth behind Tyler's feelings for the titular Addams daughter.
Source: screenrant - 🏆 7. / 94 Read more »
WTI Crude Oil Forecast: Crude Oil Hanging On By a ThreadThe Crude Oil market had broken through a major support level, but then turned around later in the day to form a bit of a hammer.
Source: Daily_Forex - 🏆 567. / 51 Read more »
OPEC+ likely to stick with existing oil output policy – ReutersCiting five sources familiar with the matter, Reuters reported on Tuesday that OPEC and its allies including Russia, known collectively as OPEC+, was
Source: FXStreetNews - 🏆 14. / 72 Read more »
OPEC+ to weigh rollover or oil output cut at Sunday meeting -sourcesOPEC+ is likely to keep oil output policy unchanged at a meeting on Sunday, five OPEC+ sources said, although two sources said an additional production cut was also likely to be considered to bolster prices that have slid due to fears of an economic slowdown.
Source: Reuters - 🏆 2. / 97 Read more »