Oil Market News: Oil Prices Jump as OPEC+ Delays Output Hike

OPEC+ has postponed its plan to increase oil production by 180,000 barrels per day, originally scheduled for December. This decision was made in response to the current depressed oil prices, with the group opting to support price stability over increased market share. As a result, Brent crude oil prices rose above $74.90 per barrel, and West Texas Intermediate reached $71.52 per barrel. Analysts are divided on the long-term impact of this decision. Some, like those at ING, believe that this signals OPEC+'s commitment to maintaining higher prices,…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com