In addition, the peace talks and possible market reaction will also be at the center of discussions and the next OPEC+ meeting on November 30, notes Reuters in its analysis.
Against this backdrop, Brent crude oil prices on November 28 remained almost unchanged at $ 63.34 per barrel after rising on Thursday by 21 cents.
The price of U.S. crude West Texas Intermediate (WTI) rose 35 cents, or 0.6%, to 59 dollars per barrel.
But prices for both grades aren’t satisfying sellers as they are in loss territory for the fourth straight month, the longest losing streak since 2023. And rising global supply is putting even more pressure on prices, states Reuters.
In this environment, investors are also waiting for the U.S. Federal Reserve to cut interest rates, which could stimulate economic growth and demand for oil.
