Oil stable as market awaits Fed, OPEC decisions

  • 📰 Reuters
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Oil prices were broadly stable as the market is looking towards a meeting of OPEC and its allies as well as a Federal Reserve rate decision and U.S. government data on crude and fuel stockpiles on Wednesday.

Brent crude futures dipped 11 cents, or 0.1%, to $85.35 a barrel at 0949 GMT. West Texas Intermediate U.S. crude futures rose 8 cents, or 0.1%, to $78.95 a barrel.index , which supported oil prices as a weaker greenback makes the commodity cheaper for buyers holding other currencies, according to Stephen Brennock, analyst at PVM.

All eyes will be on a meeting of key ministers of the Organization of the Petroleum Exporting Countries and allies including Russia, known as OPEC+, where producers arein January, as Iraqi exports dropped and Nigeria's output did not recover, with the 10 OPEC members pumping 920,000 barrels per day below their targeted volumes under the OPEC+ agreement, a Reuters survey found.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

استقرت أسعار_النفط على نطاق واسع فيما يتطلع السوق صوب اجتماع أوبك وحلفائها فضلا عن قرار مجلس_الاحتياطي_الفيدرالي بشأن سعر_الفائدة وبيانات الحكومة_الأمريكية بشأن مخزونات الخام والوقود يوم الأربعاء.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market news today: Investors await Fed and mega-cap tech earningsUS stocks slide as investors turn focus to Fed meeting and brace for mega-cap tech earnings Not my kind of investing, don't follow every whim real investing is for the long haul
Source: BusinessInsider - 🏆 729. / 51 Read more »