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Crude oil prices fell sharply on Thursday, extending losses from the previous session, amid uncertainty about the outlook for demand and on disappointment over OPEC and their allies' decision to not increase the size of production cuts for now.
Oil prices were trading lower early on Wednesday morning as the market awaits the outcome of the upcoming OPEC+ meeting.
Both Saudi Arabia and Russia have announced that they will maintain their oil supply cuts in November.
Oil Prices: Chief executive officers of Shell Plc, TotalEnergies SE and Occidental Petroleum Corp., among others, will later Monday discuss plans for the energy transition.
Oil futures settled higher on Tuesday, recovering from recent losses and a weak start..