Reported about 7 hours ago
Oil prices have declined after a four-day increase, influenced by OPEC+’s decision to pause output increases in early 2025. Brent crude is near $65 per barrel, while West Texas Intermediate is just below $61. The organization plans to maintain current production quotas in the first quarter after a minor output uplift next month, despite concerns about an impending oversupply, prompting analysts to adjust forecasts. Industry leaders are divided on the future demand outlook, amidst geopolitical tensions affecting production.
Source: YAHOO