WTI Crude Nears $83 Per Barrel, OPEC In Focus

3 Oct 2022 , 05:26 PM

The WTI Crude oil prices edged up impressively, adding onto latest string of gains as market focused on the supply dynamics. The oil cartel OPEC+ will likely consider an oil output cut of more than a million barrels per day (bpd) next week. This is keeping oil elevated despite weak equities. The WTI Crude oil futures are currently quoting at $82.91 per barrel, up 4.30% on the day. Meanwhile, European shares fell with major indices losing around 1%. The US stocks saw further losses to end the month and quarter on a dismal note. DOW slumped 1.7% on the day. Powered by Commodity Insights