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Wall Street Stocks Rise as Oil Prices Drop on OPEC+ Summit Delay

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Wall Street stocks resumed their upward climb Wednesday, while oil prices dropped with traders interpreting a delay to an OPEC+ summit as a sign of possible discord.

Wall Street stocks resumed their upward climb Wednesday, while oil prices dropped with traders interpreting a delay to an OPEC+ summit as a sign of possible discord. The oil exporters are due to decide on their output policy amid slumping crude prices and weak crude demand as China's post-Covid rebound stutters and Europe and the United States confront slowing economies.

The current output strategy by OPEC+ that saw nine members led by Riyadh cut production to boost prices has failed to bring about lasting recovery

 

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