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<Commodity>NY Oil Futures Rise 1.4% as OPEC+ Agrees to Hold Oil Production Steady in 1Q26
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With OPEC+ countries agreeing to keep oil output unchanged for 1Q26, oil prices rallied during electronic trading, and New York oil futures for January last rose by 1.4% to USD59.36. According to an OPEC+ announcement, eight OPEC+ countries have released around 2.9 million barrels of oil per day to the market since April 2025. They had previously suspended the increase in oil production for 1Q26, and yesterday's (30th) meeting reaffirmed this decision. OPEC+ is currently maintaining a daily production cut of around 3.24 million barrels, equivalent to about 3% of global demand. AAStocks Financial News |
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