Futures Movers: Oil prices rise as traders await next move by OPEC+

Oil futures rose Monday morning, finding support as investors weighed the potential for an extension of production cuts by the Organization of the Petroleum Exporting Countries and its allies after crude prices fell last week to four-month lows.

Price action

Market drivers

Oil prices bounced Friday but still logged a fourth straight weekly fall. Some short covering came as the Financial Times reported Saudi Arabia is planning to prolong its production cut of 1 million barrels a day into next year. OPEC+ is…

Source link

About The Author

Scroll to Top