(Bloomberg) — Oil was little changed as traders watched for any further clues to OPEC+’s production plans after the cartel delayed a key meeting by four days.
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West Texas Intermediate held below $69 a barrel, while Brent crude closed above $73. The producer group is set to discuss whether to proceed with reviving supplies at the delayed online gathering on Dec. 5, or prolong the curbs into 2025 to avoid tipping global markets into a glut.
Crude has traded in a tight range since the middle of October, flipping between consecutive weekly gains and losses. Prices have been buffeted by fluctuating geopolitical tensions in the Middle East, waning demand in top importer China and concerns whether President-elect Donald Trump’s upcoming policies could affect supply from Russia and Iran.
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