An employee works on at the Centenario deep-water oil platform in the Gulf of Mexico off the coast of Veracruz, Mexico. Picture: REUTERS
West Texas Intermediate crude futures fell 22 cents, or 0.4%, to $58.21 a barrel. They settled up 4.2% on Wednesday. Investor attention has switched to meetings of Opec and other producers, including Russia, and the possibility of more production cuts. “Saudi Arabia’s concerns about its loss of market share and little appetite for increased cuts in Russia, will win the day,” said Franziska Palmas, assistant economist at Capital Economics. “Accordingly, we expect Opec+ to only roll over its current production quota at this week’s meeting.”
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