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11/30/2023, 5:18 PM (Source: TeleTrader)
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Oil prices fall over 1% after reports on voluntary cuts

Oil prices fell more than 1% on Thursday after climbing as much as 2% during the day.

Earlier, it was reported that members of the broader alliance of the Organization of the Petroleum Exporting Countries (OPEC) would soon announce their own separate oil production cuts. However, according to reports, the cuts will be done on a voluntary basis.

For settlements in January 2024, the WTI dropped by 1.25% to $76.92 per barrel, and Brent for February fell by 1.16% to $81.85 per barrel at 11:07 am ET.

Baha Breaking News (BBN) / JG