Oil prices rise on positive China data; OPEC meeting awaited
Investing.com-- Oil prices drifted higher in Asian trade on Monday following some positive economic readings from top importer China, with focus turning to an upcoming OPEC+ meeting for more cues on supplies.
Still, optimism over China was quelled by threats of more tariff action by U.S. President-elect Donald Trump. Trump’s threats also boosted the dollar, which limited overall gains in crude.of the Organization of Petroleum Exporting Countries and allies, including Russia , scheduled for this Thursday. The meeting was delayed by four days.
The OPEC+ has consistently cut its demand forecasts for 2024 and 2025, as have other energy market organizations, including the International Energy Agency.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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