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Oil prices continue rise as Opec meeting looms

Oil

04 Oct 2022 03:36

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04 Oct 2022 03:36

(Montel)u00a0Oil prices continued their rise from gains seen in the prior session on Tuesday as expectations grew of a large cut to Opec production, with the cartel due to meet tomorrow.

Oil prices continue rise as Opec meeting looms

The front-month contract for Brent crude North Sea oil was last seen up USD 0.39 at USD 89.25/bbl, while the WTI equivalent was USD 0.24 higher at USD 83.87/bbl.

“Crude oil prices rallied sharply as expectations of a large cut to Opec production rose,” said Australia’s ANZ bank on a note. 

“The [23-nation] Opec+ alliance is due to meet in…

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