Oil Rises as OPEC+ Pauses Output Hikes, BP's Partial US Divestment | The Opening Trade 11/3
Donald Trump
Oil rose after OPEC+ signaled that it’ll pause output increases next quarter, following a modest hike for next month. The Organization of the Petroleum Exporting Countries and allies said on Sunday they would raise output by 137,000 barrels a day in December, matching expectations. The group will then take a January-to-March hiatus. Geopolitical tensions also weighed on crude, following Donald Trump's comments on possible US military action in OPEC cartel members Venezuela and Nigeria. BP
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