Oil Prices Rise on Worries About Russian Output, Higher US Oil Demand

Oil prices rise on worries about Russian output, higher US oil demand

Oil prices climbed by over 1% on Wednesday, helped by a smaller than expected output hike from producer group OPEC+ next month.

Oil rises on fading oversupply fear after OPEC+ restrains output increase

Oil prices saw a slight uptick as markets momentarily overlooked oversupply concerns following OPEC+'s decision to limit November production increases. Brent crude and WTI futures experienced modest gains. Analysts suggest that until physical market signs of softening emerge, investors will likely discount the impact of production hikes, with fears of Russian supply disruptions also easing.

Oil Rises on Fading Oversupply Fear After OPEC+ Restrains Output Increase

Oil prices edge up on worries about Russian output, higher US demand

Lower interest rates can boost economic growth and demand for oil

Oil Up Over 1% on OPEC+ Output Increase Restraint - Energy News, Top Headlines, Commentaries, Features & Events

(Reuters) – Oil prices climbed by over 1% on Wednesday, helped by a smaller than expected output hike from producer group OPEC+ next month, though concerns about oversupply capped further gains. Brent crude futures rose 82 cents, or 1.3%, to $66.27 a barrel by 0945 GMT. U.S. West Texas Intermediate crude climbed 85 cents, or ...

OPEC+ Moderates Oil Output Growth To Prevent Supply Glut

Oil prices advanced on Wednesday as OPEC+ opted for a restrained increase in production to maintain market balance and prevent a supply glut amid rising global output. Brent crude oil, against which Nigerian oil is priced, rose by 63 cents or 0.96% to $66.08 per barrel at 08:15 a.m. in Nigeria, while U.S. West Texas […] The post OPEC+ Moderates Oil Output Growth to Prevent Supply Glut appeared first on Investors King.