Oil regained strength as OPEC+ members backed output cuts
International benchmarks for crude oil ended the trading session on Friday, 10 November 2023 higher after Iraq voiced support for OPEC+ output cuts ahead of the group meeting on 26 November
International benchmarks for crude oil ended the trading session on Friday, 10 November 2023 higher after Iraq voiced support for OPEC+ output cuts ahead of the group meeting on 26 November. The gains were also supported by massive position covering by speculators.
Brent rose $1.42 or 1.8% to settle at $81.43/barrel.
WTI jumped $1.43 or 1.9% to close at $77.17/barrel.