Oil prices surged over $1 after OPEC+ delayed its planned output increase to January.

Oil prices rose by over $1 on Monday after OPEC+ announced a delay in its planned output increase from December to January. Brent crude futures climbed 1.56% to $74.24 per barrel, while U.S. West Texas Intermediate (WTI) increased by 1.64% to $70.63. OPEC+, which includes major oil-producing nations, was set to boost output by 180,000 barrels per day in December before the postponement.

November 04, 2024
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