Crude oil futures ended lower on Thursday as the dollar eased off 20-year highs. Concerns about the outlook for energy demand contributed to the pullback by oil prices amid ongoing worries about a potential global recession. However, a private report stated that the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, are considering reducing output at a meeting next week helped limit the downside.
Benchmark crude oil futures for November delivery fell $0.92 or about 1.1 percent at $81.23 a barrel on the New York Mercantile Exchange. Brent crude for November delivery dropped $0.83 or about 0.92 percent to settle at $88.49 a barrel on London's Intercontinental Exchange.