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Commodity: Oil prices stabilized on Wednesday

01/10/2025
Source : ORISHAS FINANCE
Categories: Raw materials

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After two days of declines, oil prices have stabilized Wednesday. Investors assess OPEC+ plans for an increase highest production next month, while data in from the United States and Asia were showing signs of a decline in request. padding:0cm; font-weight:normal"> style="font-size:14.0pt; line-height: 107%; font-family: "Bookman Old Style”, serif; mso-bidi-font-family: "Times New Roman”; mso-bidi-theme-font:minor-bidi; border:solid #E5E7EB 1.0pt; mso-border-alt:solid #E5E7EB .25pt;

padding:0cm; font-weight:normal"> style="font-size:14.0pt; line-height: 107%; font-family: “Bookman Old Style”, serif; border:solid #E5E7EB 1.0pt; mso-border-alt:solid #E5E7EB .25pt; padding:0cm">Brent crude oil futures for delivery in December rose 6 cents to $66.09 per barrel at 08:35 GMT. The raw American West Texas Intermediate gained 4 cents to $62.41 per barrel

Organization of Petroleum Exporting Countries and its allies, known as OPEC+, could agree to increase the oil production up to 500,000 barrels per day (bpd) in November, i.e. triple the increase achieved in October, while Saudi Arabia is looking to regain market share, said three sources close to discussions.

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