Crude oil prices are holding near $77 per barrel mark following a plunge amid Chinas strict Covid restrictions and ensuing protests that dampened the outlook for the worlds top crude importer. However, oil prices see small recovery in early Asia as markets bet that the Organization of Petroleum Exporting Countries (OPEC) will step in to support prices in its December meeting. The OPEC announced a 2 million barrel per day supply cut in October to drive up prices. WTI crude oil futures are currently quoting up nearly half a percent at $77.61 per barrel. Powered by Commodity Insights
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