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Oil: Uncertainties drive prices down

01/08/2022
Categories: Raw materials

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Oil prices are falling amid uncertainty about the outcome of the OPEC+ meeting. The group would consider keeping oil production unchanged for September, despite calls from the United States for more supply, but a modest increase in production should also be discussed, the Phillip Securities Research team said in his morning comment.

First-month WTI crude oil futures are down 0.7% to $97.91/barrel and Brent crude oil futures are down 0.6% to $103.35/barrel.

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