Oil mixed as OPEC supply cut prospect offsets demand fears - Business News| Latest News & Reviews On Financial Markets | Themarkettrendz

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Sunday, 28 August 2022

Oil mixed as OPEC supply cut prospect offsets demand fears

The dollar index continued to climb on Monday to 109.16, up 0.3% in early trade. A stronger dollar weighs on oil as it makes crude more costly for buyers holding other currencies.However, oil prices have been buoyed by talk from Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries and allies, together called OPEC+, that they could cut output in order to balance the market.

from Commodities-Markets-Economic Times
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