Crude Oil Sep 24 (CLU24.NYM)

NY Mercantile - NY Mercantile Delayed Price. Currency in USD

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53.48-0.18 (-0.34%)

As of 7:00PM EST. Market open.

Reuters
Oil slips on concerns that OPEC+ may be set to pump up supply
Oil prices were down in early trade on Wednesday, extending several days of losses, amid uncertainty over how much supply producing countries will push to restore to the market at a meeting this week while the coronavirus pandemic persists. U.S. West Texas Intermediate (WTI) crude futures fell 18 cents, or 0.3%, to $59.57 a barrel by 0122 GMT, down 6% since Feb. 25, when they hit their highest close since May 2019. The Organization of the Petroleum Exporting Countries (OPEC) and allies, together called OPEC+, are set to meet on Thursday, at a time when they are generally positive on the oil market outlook compared with a year ago when they slashed supply to boost prices.
Oilprice.com
Oil Markets On Edge Ahead Of OPEC+ Meeting
Oil prices pared gains at the start of the week, seemingly hitting a temporary high note. Traders are on edge as they away a decision from OPEC+ regarding the potential easing of production cuts
Oilprice.com
Middle East Producers Are Desperate For Higher Oil Prices
Higher crude prices will play a vital role in the economic recovery of all oil-producing nations, but Middle Eastern producers in particular are desperate to keep prices high