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Int'l Oil Prices Rise as OPEC+ To Hit Brake on Production Hike in 1Q26
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International oil prices advanced this morning (3rd) in early Asian trading as OPEC+ decided to pause the increase of crude oil production in 1Q26 after resuming the production of 137,000 barrels per day in December. Brent crude oil futures for January delivery grew 0.63% to US$65.19, and U.S. crude oil futures for December delivery gained 0.64% to US$61.37. OPEC+ stated that the pause in production increase in 1Q26 is due to seasonal demand deceleration in the market. Helima Croft, Head of Commodity Strategy at RBC Capital, commented that pausing the production hike is a prudent approach, given the uncertainty of supply conditions in 1Q. AASTOCKS Financial News Website: www.aastocks.com |
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