Oil costs prolong pullback as merchants await OPEC+ assembly

Oil futures fell Monday as merchants weighed prospects for additional manufacturing cuts by the Organization of the Petroleum Exporting Countries and its allies — recognized collectively as OPEC+ — after they meet later this week.

Price motion

Market drivers

Front-month WTI fell 0.7% final week, whereas January Brent edged down 3 cents, or lower than 0.1%. It was the fifth straight weekly fall for each benchmarks.

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