9/12, 12:10 PM (Source: TeleTrader)
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Oil drops as OPEC+ calls for full compliance to cuts

Prices of oil futures fell on Thursday after OPEC+ called on member states to achieve full compliance with output cuts. In a statement after the joint ministerial meeting in Abu Dhabi, the Organization of Petroleum Exporting Countries and other exporters led by Russia said that the compliance reached was 136%, while non-compliant countries have pledged to achieve 100%.

At 11:58 am CET, West Texas Intermediate deliveries for October were down 0.65% to $55.39 per barrel, while Brent deliveries for November lost 0.82% at 11:59 to go for $60.31 per barrel.

Breaking the News / NI