Oil Prices Fall as OPEC Considers Output Increase

Despite conflicting opinions amongst OPEC members, the market is betting the cartel of oil producers will increase production to meet shortcomings as Libyan crude oil output slows. The price of US light crude fell by as much as $2.11 to $103.33 a barrel in New York this morning, while Brent crude was down $2.25 at $112.79 a barrel.

Source: BBC News

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.