The oil cartel’s recent decision could mitigate global oil supply glut fears.
An installation depicting a barrel of oil with the OPEC logo, during the COP29 U.N. climate change conference in Baku, Azerbaijan. Maxim Shemetov/File Photo/Reuters
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Crude oil prices were little changed on Nov. 3, shrugging off OPEC+’s plans to pause its supply increase in the first quarter of 2026.
The U.S. benchmark West Texas Intermediate crude oil prices dipped by about 0.3 percent, to about $60.80 a barrel on the New York Mercantile Exchange.
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of “The War on Cash.”
