Oil Markets On Edge As OPEC+ Meeting Approaches

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After charging to $80 per barrel on Tuesday, oil prices fell back on news of inventory builds and extra supply, and now markets are nervously waiting for the OPEC+ meetingOil and Natural Gas PricesUS Oil ProductionCrude Oil StocksUS Crude Oil StocksRefinery RunsUS Oil ImportsUS Gasoline StocksOil Prices Today, Friday, October 1st, 2021 As OPEC+ meets once again next Monday, speculation has been rife regarding the oil group’s intentions to bring more crude into the market. Whilst prices are still close to the $80 per barrel mark, with Brent trading around $78 per barrel and WTI trending around $74.5 per barrel, the first US inventory stock build since late July and news of OPEC+ laggards (Russia and Kazakhstan) ramping up supply has provided some downside for prices. At the same time, exorbitantly high gas prices driving gas-to-oil switching in Asia and the US dollar weakening are largely offsetting those factors.Spot LNG Price Surge Continues. Increasing purchasing activity
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