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Oil steady as markets weigh OPEC+ cuts against China demand concerns
![IndiaTimes]()
Wednesday, 6 December 2023
Oil prices steady as investors weigh OPEC+ cuts against worsening demand outlook in China; Brent crude futures fell to $77.15 a barrel, while US WTI crude futures fell to $72.16 a barrel; OPEC+ agreed on voluntary output cuts of about 2.2 million bpd for Q1 2024; Concerns over China's economic health and Moody's downgrade of China's rating also weighed on prices; Russian president Putin to discuss oil and OPEC+ agreement during his visit to the UAE and Saudi Arabia.
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Wednesday, 6 December 2023
