A slight rise in oil prices, and attention is turning towards the OPEC+ meeting, 1 DEC

 A slight rise in oil prices, and attention is turning towards the OPEC+ meeting

Oil prices rose slightly today amidst anticipation of the OPEC+ meeting.

The OPEC+ meeting is today, with talks focused on additional production cuts. However, details still need to be agreed upon.

The price of Brent crude futures increased by approximately 0.16% and reached $83.23 per barrel.

The price of US crude futures increased by 0.23%, reaching $78.02 per barrel.

During November, industrial production in China contracted for the second consecutive month and missed analysts’ expectations.

This month’s Manufacturing Purchasing Managers’ Index fell slightly to 49.4, compared to October’s 49.5 and Reuters’ forecast of 49.7.

US Energy Information Administration data showed a sudden increase of 1.6 million barrels in US inventories last week.