INSUBCONTINENT EXCLUSIVE:
As December begins, oil prices remain stable, reflecting a complex interplay of geopolitical tensions and economic factors.The international
benchmark, Brent crude, closed at $71.83 per barrel, while West Texas Intermediate (WTI) settled at $68.10 per barrel
exerted downward pressure on oil prices
A robust dollar makes oil more expensive for buyers using other currencies, potentially dampening demand.This currency dynamic coincides
and further bolster the dollar.Meanwhile, the OPEC+ coalition prepares for a crucial meeting to discuss production strategies
Originally scheduled for December 1, the meeting was postponed to December 5 due to scheduling conflicts with the Gulf Summit.Oil Prices
Steady as Dollar Strengthens and OPEC+ Meeting Looms
(Photo Internet reproduction)OPEC+, comprising both OPEC members and allied producers, currently enforces significant production cuts to
balance supply and demand
However, rising oil output outside the group poses challenges to their strategy.In parallel, geopolitical tensions in the Middle East add
another layer of complexity
Despite a recent ceasefire between Israel and Hezbollah, hostilities have resumed, raising concerns about potential disruptions in oil
peace agreements in this volatile area
November, with the Caixin Manufacturing PMI rising to 51.5
