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U.S. WTI crude futures closed up 3% on Wednesday, down 6.9% in November

 Last Update: 2023-01-01
 Source: Internet
 Author: User

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In the early morning of the 1st Beijing time, U.
S.
WTI crude oil futures closed higher
on Wednesday.
U.
S
.
crude inventories fell sharply last week, supporting crude prices.

Traders are also watching for signs
of an improving outlook for crude oil demand.

In addition, the Organization of the Petroleum Exporting Countries and its allies (OPEC+) will meet this Sunday to decide on future crude oil production quotas
.

Analysts said OPEC+ is not expected to make any adjustments to current production targets, which would make future crude prices "range-bound.
"

West Texas Intermediate (WTI) crude futures for January delivery rose $2.
35, or 3 percent, to settle at $80.
55 a barrel, the highest close since Nov.
22
.

By the most active contracts, WTI crude oil futures fell by about 6.
9%
in November.

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