Oil prices remained relatively flat in light trading as markets await clarity from the upcoming OPEC+ meeting. Brent crude hovered near $81 per barrel, while U.S. West Texas Intermediate (WTI) held around $76. Limited trading volumes ahead of the meeting contributed to the subdued market activity, with participants largely refraining from significant moves.
The OPEC+ meeting, set for later this week, is expected to shape market sentiment amid growing concerns over global demand and production cuts. Analysts anticipate that the group may discuss extending or deepening supply reductions to stabilize prices in the face of uncertain economic conditions. This decision comes as central banks worldwide grapple with inflation and slowing growth, factors that could further influence oil consumption.
