10/11/2023, 4:12 PM (Source: TeleTrader)
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Oil down by 1% on S. Arabia alleged output rise

The prices of oil futures declined on Wednesday after Saudi Arabia reportedly informed the United States it might increase its crude production in early 2024.

Meanwhile, Exxon Mobil Corp. announced a total acquisition of the hydrocarbon exploration company Pioneer Natural Resources for $59.5 billion.

West Texas Intermediate (WTI) for November's settlements slid by 1.49% at 10:01 am ET to sell for $84.68 per barrel. A minute later, Brent for December's deliveries decreased by 1.08% to go for $86.66 per barrel.

Baha Breaking News (BBN) / JR