OPEC+ will delay oil output hike at meeting, source says
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OPEC+ plans to delay its scheduled oil output increase, originally set for January, to support the oil market. This decision will be discussed in an online meeting on Thursday.
December 05, 2024 | 11:00 am
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The United States Brent Oil Fund (BNO) may see a positive impact as OPEC+ delays its oil output hike, potentially supporting oil prices.
BNO, which tracks Brent crude oil prices, is likely to benefit from OPEC+'s decision to delay the output hike. This move is intended to support oil prices, which could lead to a short-term increase in BNO's value.
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IMPORTANCE 70
RELEVANCE 80