Oil prices drop 3% as OPEC+ plans for oil output hike
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HOUSTON :Oil prices settled 3 per cent lower on Monday as OPEC+ plans for another increase to oil output in November and the resumption of oil exports by Iraq's Kurdistan region via Turkey raised the global supply outlook. Brent crude futures dropped $2.16, or 3.1 per cent, to close at $67.97 a barrel by 11:33 a.m. ET (1533 GMT) after settling at their highest since July 31 on Friday. U.S. West Texas Intermediate crude was down $2.27, or 3.45 per cent, at $63.45. OPEC+, the Organization of the
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