Most Gulf markets fall as OPEC+ delays oil output hike
Most major stock markets in the Gulf fell in early trade on Monday, following a decision by OPEC+ to delay a planned December oil output increase by one month.
OPEC+ in a pickle: should the cartel increase oil output?
The Organization of the Petroleum Exporting Countries and allies are in a dilemma with its decision to increase oil output from December.
With Oil Prices Weak, OPEC Plus Postpones Increases Again
Saudi Arabia, which leads the group, appears wary of unsettling markets just before the U.S. presidential election on Tuesday.
Opec+ members delay planned rise in oil production
Postponing the unwinding of the cuts for another month also enables the group to delay a decision on production levels for 2025 until after the US election, analysts said. Opec+ members are due to meet in person on December 1 in Vienna, when a final decision is expected.
Oil rises as OPEC+ delays production hike and Iran escalates retaliatory rhetoric
Brent rose as much as 2.5 per cent to more than US$74 a barrel, while West Texas Intermediate climbed above US$71. The Kingdom of Saudi Arabia and its allies delayed a series of monthly output hikes until early next year, a move anticipated by many traders amid fragile market conditions.
Oil gains more than 2% after OPEC+ delays output hike, US election in focus
Oil prices rose more than 2% on Monday on a decision by OPEC+ to delay by a month plans to increase output, while the market braced for a crucial week that includes the U.S. presidential election. U.S.
Oil futures jump after OPEC+ again delays production increases
Oil futures jumped Monday after members of OPEC+ — made up of the Organization of the Petroleum Exporting Countries and its allies — said they would wait yet another month before beginning to unwind 2.
Oil Gains as OPEC+ Further Delays Output Hike
Oil prices rose after OPEC and its allies pushed back a planned production increase by a month, signaling caution amid growing concerns about weaker global demand and lower prices.
Crude Oil Futures Gain as OPEC+ Extends Output Cuts
KEY TAKEAWAYS Crude oil futures are rising Monday after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) on Sunday extended their output cuts by one month.Saudi Arabia and other members of OPEC+ said they agreed to keep voluntary production cuts of around 2.
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