ZCZC
BCN-29
US-ENERGY-OIL-PRICE-OPEC
Oil prices settle mixed ahead of OPEC+ meeting
NEW YORK, Dec. 4, 2019 (BSS/Xinhua) – Oil prices ended on a mixed note
Tuesday as traders awaited a meeting by the world’s major oil producers to
see their next move on output cuts.
The West Texas Intermediate (WTI) for January delivery increased 14 U.S.
cents to settle at 56.10 dollars a barrel on the New York Mercantile
Exchange. Brent crude for February delivery shed 10 cents to close at 60.82
dollars a barrel on the London ICE Futures Exchange.
A meeting of the Organization of the Petroleum Exporting Countries (OPEC)
is scheduled for Thursday, while the broader OPEC+ group is due to meet on
Friday.
Market participants and analysts speculated that producers are likely to
keep or deepen current production curbs to support oil prices.
In July, OPEC and Russia, together with other non-OPEC members, agreed to
extend a production cut of 1.2 million barrels a day for nine months.
BSS/XINHUA/HR/1340