Oil Prices Fall for a Third Straight Month as OPEC+ Considers Boosting Output
Update: 2025-10-31
Description
Oil prices plummet for the third consecutive month, with Brent crude at $64 and WTI above $60, due to weak Chinese factory activity, a robust U.S. dollar, and OPEC Plus' potential to increase production by 137,000 barrels per day. Despite U.S. sanctions on Russian oil companies and hopes for increased U.S. imports, the market remains unfazed. The focus now shifts to the upcoming OPEC Plus meeting and how major buyers like China and India respond to U.S. pressure on Russian oil.
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