Oil Prices Steady; OPEC+ Meeting in Focus
·1 min
OPEC+ Meeting Anticipation #
Oil futures remain steady in early Asian trade as anticipation builds around the upcoming OPEC+ meeting later this week. Market participants expect that OPEC+ will extend its current output cuts until the end of the first quarter of 2025. These potential extensions may provide some short-term support for oil prices. However, broader market indicators suggest a bearish outlook for crude prices in the near to medium term as concerns over oversupply continue to overshadow any potential price increases. In the market, front-month WTI crude oil futures are holding steady at $69.97 per barrel, and Brent crude oil futures are unchanged at $73.64 per barrel.