Oil Prices End Mixed As Traders Await OPEC+ Meeting| MENAFN.COM

Thursday, 02 February 2023 05:14 GMT

Oil Prices End Mixed As Traders Await OPEC+ Meeting


(MENAFN- Trend News Agency)

Oil prices closed mixed on Tuesday as market participants awaited a key meeting by major producers, trend reports citing xinhua .

The West Texas Intermediate for January delivery added 96 cents, or 1.24 percent, to settle at 78.2 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for January delivery lost 16 cents, or 0.19 percent, to settle at 83.03 dollars a barrel on the London ICE Futures Exchange.

The Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, will meet on Dec. 4. In October, the oil alliance agreed to reduce its output target by 2 million barrels per day from November to shore up prices.

Traders were also anticipating data on U.S. fuel stockpiles as the Energy Information Administration will release its weekly petroleum status report on Wednesday.

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