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International benchmarks for oil prices remain on the firm track on Monday (3 October) as players hold optimism over OPEC’s plans to cut output despite stronger US dollars. While many analysts are not confident about the achievability of OPEC deals and the risk of disappoint is high; industry experts are saying that more discussion between OPEC and non-OPEC members such as Russia are needed to ensure the sustainability of the recent upward momentum.

WTI closed at $48.81/barrel (+$0.57) for November delivery

Brent closed at $50.89/barrel (+$0.70) for November delivery