Oil slips below $80 after OPEC+ output hike decision

Published by
Reuters UK

By Ron Bousso LONDON (Reuters) -Oil prices slipped below $80 a barrel on Wednesday after OPEC+ producers stuck to an agreed output target rise for February and investors assessed the impact of a spike in COVID-19 cases caused by the Omicron variant. Brent crude futures were down 18 cents, or 0.23%, to $79.82 a barrel by 0945 GMT, while U.S. West Texas Intermediate (WTI) crude futures declined 23 cents, or 0.3%, to $76.76. OPEC+ producers, which include members of the Organization of the Petroleum Exporting Countries along with Russia and others, on Tuesday agreed to add another 400,000 barrels…

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *