Oil prices have dropped as the OPEC+ group postpones supply increases and extends output cuts until 2026, driven by weak global demand, especially in China. Despite the US crude stockpile drawdown, concerns over global demand and supply outweigh the benefits of the extension.
Oil prices have decreased slightly, with the OPEC+ group postponing planned supply increases and extending deep output cuts until the end of 2026. This is due to weak demand , particularly in China , and increased production elsewhere. Despite the US crude stockpile drawdown last week and the OPEC+ plan to increase output until September 2026, concerns over global demand have pushed oil prices lower.
The latest extension by OPEC+ may offer some support to the market, but ongoing supply issues could still affect prices negatively
Oil Prices OPEC+ Supply Cuts Demand China Global Economy
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Oil Prices Remain Unchanged Amid Narrow Trading RangeBrent crude futures ne $71.97 a barrel par khuwab hue hain jahan tak US WTI crude ne $68.18 par khuwab hue hain. OPEC+ ne apne Dec. 5 meeting par aakhiri round ke production cuts ko ek mahinah tak extend karna chaha hai. Weak demand outlook oil prices ko ek neek range mein trading karenay ko bhalay kiye hai.
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