Crude Oil Updates

Category:-Metal | 30-Sep-2022 09:11 AM

Oil prices dropped after touching the $90 per barrel mark on Thursday as traders awaited clarity on potential OPEC+ cuts next week and as the dollar eased off 20-year highs.

Brent crude futures settled at $88.49 per barrel for a loss of 0.9%, after earlier rising as high as $90.12. U.S. crude futures for November ended the day 1.1% lower at $81.23 per barrel.

Leading members of the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, have begun discussions about an oil output cut at their next meeting on Oct. 5, three sources told Reuters.

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