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Oil rises as US stocks fall, but Opec+ policy concerns limit gains

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Brent crude futures were up 65c at $83.68 a barrel in early trade, while US West Texas Intermediate crude futures rose 68c to $78.88 a barrel

— Oil prices rose in early Asian trade on Wednesday as US crude inventories were seen falling, but concerns that Opec+ would leave output policy unchanged at its upcoming meeting limited gains.

Helping to boost prices, US crude oil stocks were expected to have dropped by about 7.9-million barrels in the week ended November 25, according to market sources citing American Petroleum Institute figures on Tuesday. Gasoline inventories rose by about 2.9-million barrels, while distillate stocks were seen rising about 4-million barrels, according to the sources, who spoke on condition of anonymity.

 

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