4:27 PM · 2 October 2024

OIL.WTI drops and defends $70 level as OPEC+ agreed to ease production cuts in December

OIL.WTI loses as OPEC+ agreed to ease production cuts in December, according to WSJ reports. Also, OPEC informed that the organization works with Russia, Kazakhstan and Iraq to offset past overproduction. Oil is also pressured by higher than expected US EIA inventories, lack of Israel counterattack to Iran. However, some media reports suggest Israeli strikes in Damascus, Syria.

Source: xStation5

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Oil declines under the weight of inventories

Commodities

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