(MENAFN- Trend News Agency)
Oil prices declined on Thursday as market participants awaited a
key meeting by major oil producers, reports citing .
The West Texas Intermediate (WTI) for November delivery
decreased 92 cents, or 1.1 percent, to settle at 81.23 U.S. dollars
a barrel on the New York Mercantile Exchange. Brent crude for
November delivery lost 83 cents, or 0.9 percent, to settle at 88.49
dollars a barrel on the London ICE Futures Exchange.
The Organization of the Petroleum Exporting Countries and its
allies, collectively known as OPEC+, is set to meet next week and
discuss future output strategy.
On Wednesday, the WTI and Brent rallied 4.65 percent and 3.54
percent, respectively, supported by easing U.S. dollar and a drop
in U.S. fuel inventories.
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