WTI crude oil grinds higher past $87.00 with eyes on OPEC+ verdict, Russia By anilpanchal7 Oil WTI RussianFederation Commodities RiskAppetite
OPEC+ is likely to keep production hike targets on the table but geopolitical tensions test the output promises.
Although the black gold remains firmer around the highest levels since October 2014, an absence of Chinese traders and cautious sentiment ahead of the OPEC+ verdict, up for publishing on Wednesday, seem to challenge the quote’s recent moves. That said, OPEC+ is a group of the Organization of the Petroleum Exporting Countries and its allies led by Russia.
It’s worth noting that the escalating inflation fears and firmer US dollar also challenge oil buyers at the multi-month top.
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