Oil prices fell in early trade as investors digest OPEC+’s decision to pause production increases for the first quarter of next year.
This marks the group’s first pause since it started unwinding production cuts in April and might be seen as an acknowledgement of oversupply, according to some market watchers.
Brent crude was down 1.1% to $64.16 a barrel, while WTI slipped 1.2% to $60.43 a barrel.