Oil prices settle mixed after downbeat week

0 Comment(s)Print E-mail Xinhua, November 29, 2022
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NEW YORK, Nov. 28 (Xinhua) -- Oil prices closed mixed on Monday.

The West Texas Intermediate (WTI) for January delivery added 96 cents, or 1.26 percent, to settle at 77.24 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for January delivery lost 44 cents, or 0.53 percent, to settle at 83.19 dollars a barrel on the London ICE Futures Exchange.

For the week ending Friday, the WTI dropped 4.78 percent and Brent dipped 4.55 percent, amid worries over ebbing demand as the global economy slows.

The Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, will meet on Dec. 4. In October, the oil alliance agreed to reduce its output target by 2 million barrels per day from November to shore up prices. Enditem

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