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Oil Price Forecast: WTI Faces Technical Hurdles as OPEC+ Rumors Swirl

November 29, 2023

Via: DailyFX

Oil prices are enjoying a second successive day of gains, up around 1.5% at the time of writing. A lot of the optimism stems from the idea that OPEC+ will announce additional cut at tomorrow’s virtual meeting despite rumors that an agreement is far from being reached.

The OPEC+ meeting, which was delayed to tomorrow, November 30 and will be a virtual meeting continues to be the major talking point in relation to oil prices. There has been a back and forth for the majority of the week as rumors swirl around disagreements between countries regarding the supply and output quotas.

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