Oil prices have stabilized after their decline in two days, while clients evaluate the possibility that the OPEC+ coalition will discuss its plans to increase the supplies, during the meeting that ended this week. Brent oil trades December -delivery near the $ 66 per barrel, after losing about 5% in the first two sessions of the week. As for Western Texas, the Western Texas are over $ 62. One of the delegates said that the coalition would discuss the increase in three monthly stages, at 500 thousand barrels a day for each phase, to restore the market share, although OPEC said in an official statement that it did not have a plan of this nature. The ghost of the US government’s closure in the broader markets and the closure of traders follows the government, after the congress did not accept the financing law before a deadline for a solution to midnight Washington time. US stock futures have dropped slightly, along with Asian stocks. The oil ended a decrease for the second consecutive month in September, after it reinforced the increase in the previous supplies of “Opec+” expectations of a global surplus in the offer during the upcoming period. Although Chinese demand – the world’s largest oil importer – has provided some prices for prices in the last chapters, the international energy agency expects a record surplus in the offer next year. “The US closure adds noise to the scene, especially if the data is disrupted, but it does not change the short -term comparison of providing the offer in abundance,” said Charo Chanana, investment analyst at Saksu Markets in Singapore. “Brent is still under pressure in light of the narrative dominance of the abundance of supplies on the market.” Several US stocks also evaluate an investor report from the American Petroleum Institute on Stocks. The data showed that US oil supplies decreased by 3.7 million barrels last week, while gasoline and districts rose, which added more complicated in punctuation.
Oil stabilizes to sharp losses with the anticipation of the OPEC+ meeting
