Oil prices remained subdued, extending a decline as markets focused on an upcoming OPEC+ meeting. Brent crude hovered near $75 a barrel, while WTI traded below $71. Concerns over slower economic growth and sustained interest rates have weighed on demand outlooks, keeping traders cautious ahead of any potential changes in output from major producers.
OPEC+ decisions are critical in shaping near-term market trends, especially as Saudi Arabia and Russia, key coalition players, evaluate production strategies. The alliance has already implemented significant output cuts this year, aiming to stabilize prices amid weak demand. Analysts expect any further adjustments to signal how aggressively the group intends to manage supply against the backdrop of a murky economic environment.
