Posted 12/6/2023, 5:22:28 AM
Oil Prices Mixed as OPEC+ Cuts Weighed Against China Demand Concerns
- Oil prices mixed as markets assess impact of OPEC+ supply cuts vs China demand worries
- Brent crude up slightly, WTI down slightly after both hit lowest since July 6 in previous session
- OPEC+ agreed to cut output by 2.2 million bpd in Q1 2024, including extended Saudi, Russian cuts
- Concerns remain about weakening Chinese economy and oil demand
- US crude oil and fuel inventories rose last week per API data ahead of EIA report Wednesday