Oil prices rose by more than $1 per barrel on Wednesday, as investors focused on the prospects for a further reduction in production and global inventories. The movement reflects the continued volatility of the energy market in the face of geopolitical tensions and economic uncertainties.
Before the meeting, discussions focused on negociações additional information, although the details had not yet been agreed. The prices of oil rose more than 1 dollar per barrel this Wednesday, as investors focused their expectations on courteous de offer planned by OPEC+.
The contracts future Brent crude futures rose $1,42, or 1,7%, to $83,10 per barrel, while U.S. West Texas Intermediate (WTI) crude futures rose $1,45, or 1,9%. %, closing at 77,86 dollars per barrel.
Kpler analyst Matt Smith pointed out that oil markets found support on hopes of a price-friendly resolution from the OPEC+ group.
OPEC+ members, which include the Organization of the Petroleum Exporting Countries and its allies such as Russia, are due to hold a meeting on Thursday. To the negociações prior to the meeting focused on courteous additional, although the details had not yet been agreed, as sources close to the group reported to Reuters.
"All eyes are on the Nov. 30 OPEC meeting, and the small details will be important," said CFRA analyst Stewart Glickman.
Source: moneytimes
