Oil Prices Fall as Traders Await OPEC+ Meeting

Translator

Editor

Laila Afifa

Jumat, 30 September 2022 08:39 WIB

TEMPO.CO, New York - Oil prices declined on Thursday, Sept. 29, as market participants awaited a key meeting by major oil producers.

The West Texas Intermediate (WTI) for November delivery decreased 92 cents, or 1.1 percent, to settle at 81.23 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for November delivery lost 83 cents, or 0.9 percent, to settle at 88.49 dollars a barrel on the London ICE Futures Exchange.

The Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, is set to meet next week and discuss future output strategy.

On Wednesday, the WTI and Brent rallied 4.65 percent and 3.54 percent, respectively, supported by easing the U.S. dollar and a drop in U.S. fuel inventories.

Xinhua

Click here to get the latest news updates from Tempo on Google News

OilOPEC+oil priceOPEC

Related News

A Domestic Recipe for the Middle East Conflict

1 hari lalu

A Domestic Recipe for the Middle East Conflict

The Middle East conflicts will harm the Indonesian economy. The solution is to improve the domestic economy.

Read More

Sri Mulyani Talks of Impact of Middle East Conflict on Indonesia

6 hari lalu

Sri Mulyani Talks of Impact of Middle East Conflict on Indonesia

Finance Minister Sri Mulyani said that geopolitical tensions in the Middle East are on the rise and have drawn the attention of global leaders.

Read More

JCI Weakens Alongside Asian Exchanges as Middle East Tension Escalates

16 hari lalu

JCI Weakens Alongside Asian Exchanges as Middle East Tension Escalates

The Jakarta Composite Index (JCI) weakened along with other bourses in the Asian region on Tuesday evening, April 16.

Read More

Iran-Israel Conflict; Indonesia to Review Fuel Subsidy Budget

16 hari lalu

Iran-Israel Conflict; Indonesia to Review Fuel Subsidy Budget

Indonesian Coordinating Minister Airlangga Hartarto highlighted the impact of Iran's attack on Israel on global oil prices.

Read More

The 10 Cheapest Countries to Live In, Pakistan Ranked First

17 hari lalu

The 10 Cheapest Countries to Live In, Pakistan Ranked First

Pakistan is ranked first as the country with the lowest living cost.

Read More

Oil Prices Down on Gaza Ceasefire Talks, Flat on the Week

41 hari lalu

Oil Prices Down on Gaza Ceasefire Talks, Flat on the Week

Oil prices slipped on Friday, March 22, and were flat on the week as the possibility of a ceasefire in Gaza weakened crude benchmarks.

Read More

Govt Ensures No Price Hike on Pertamina's Fuel Oil

4 Maret 2024

Govt Ensures No Price Hike on Pertamina's Fuel Oil

Jokowi ensured that there would be no price hike for fuel oil (BBM) from Pertamina.

Read More

Cheap Russian Oil Fuels India's Response to Ukraine War

25 Februari 2024

Cheap Russian Oil Fuels India's Response to Ukraine War

The West expected India to turn its back on Russia, but a look at the numbers shows that expectation never seemed realistic or likely.

Read More

Palm Oil Buyers Switch to Cheaper Rival Oils

9 Februari 2024

Palm Oil Buyers Switch to Cheaper Rival Oils

The rebound in palm oil prices is likely to be capped by abundant supplies of rival soy oil and sunflower oil.

Read More

Greta Thunberg to Be Trialed at London Court for Oil Protest

1 Februari 2024

Greta Thunberg to Be Trialed at London Court for Oil Protest

Greta Thunberg was arrested in October after protesting outside a London hotel where the Energy Intelligence Forum was hosting industry leaders.

Read More

Recomended