'OPEC+ nearing agreement to delay oil output hike, sources say' -Reuters
Portfolio Pulse from Benzinga Newsdesk
OPEC+ is reportedly close to agreeing on delaying an increase in oil output, which could impact oil prices. This decision is significant for investors in oil-related assets, including the United States Oil Fund (USO).
September 05, 2024 | 12:51 pm
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The United States Oil Fund (USO) may see a positive impact on its price due to OPEC+'s potential decision to delay an oil output hike, which could support higher oil prices.
OPEC+'s decision to delay an oil output hike is likely to support oil prices by limiting supply. As USO tracks the price of oil, this could lead to a short-term increase in USO's price.
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