Oil prices fell on Monday, with the Brent benchmark hovering around $80 a barrel as investors awaited this week’s Opec+ meeting and expected curbs on supplies into 2024.
Brent crude futures were down 37 cents, or 0.4 per cent, at $80.21 a barrel by 1633 GMT, while US West Texas Intermediate (WTI) crude futures lost 29 cents, or 0.4 per cent, to $75.25. Both contracts lost $1 in early trading.
Prices tumbled midweek when Opec+ — the Organization of the Petroleum Exporting Countries (Opec+) and allies including Russia — postponed to November 30 a ministerial meeting to iron out differences on production targets for African producers.
