OIL.WTI erases losses in the first part of the day, gaining 1.20% to $71 per barrel following news that OPEC+ is considering delaying the planned production increase next month. The reason for these discussions is the significant drop in oil prices to the lowest level since January 2024.
Last week, the decline in oil prices was supported by the assumption that OPEC+ would proceed with the planned increase of 180,000 barrels per day in October. However, after market turbulence caused by the closure of oil facilities in Libya, and more importantly, weak economic outlooks, suggestions have emerged to delay the increase.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appFollowing the release of this information, OIL.WTI prices have risen 1.20% above $71.30 per barrel, returning from local lows around $69.20.
Source: xStation 5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
