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Brent crude off the lows as OPEC+ reportedly to delay output hike next year
According to source reports OPEC+ will delay an output hike next year. Those reports come from the major financial news wire service Reuters. However, oil prices are not exactly flying higher on the news. Granted the price is off the earlier lows, that saw Brent fall back to around $72.20 as the European markets opened. It is pushing a bit higher now, but still some way short of $73 per barrel and of course a good deal south of the high seen yesterday, at $74.27. Also, it does not seem like this news is surprising the oil markets much, as indeed it should not. Brent for February delivery is currently trading at $72.62
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