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Oil near $90 as OPEC+ considers output cut

September 29, 2022


Oil prices steadied on Thursday as indications that OPEC+ might cut output were tempered by a stronger dollar and weak economic outlook.

Brent crude futures for November edged up 26 cents, or 0.3%, to $89.58 a barrel by 1354 GMT. The more active December contract eased 13 cents, or 0.2%, to $87.92.

U.S. crude futures for November eased by 8 cents, or 0.1%, to $82.07.

Leading members of OPEC+ have begun discussions about an oil output cut when they meet on Oct. 5, two sources from the producer group told Reuters.