Crude oil futures ended lower on Thursday amid the Organization of Petroleum Exporting Countries and their allies, collectively known as OPEC+, deciding to push back plans to raise production until April. The decision means the oil cartel is extending its voluntary cut of 2.2 million barrels a day to 18 months. The group said it plans to gradually increase output starting in the second quarter and continue doing so until September 2026. Besides, weak demand from China and rising production in the U.S. weighed on oil prices.
Benchmark crude oil futures for January delivery fell by $0.24 or about 0.4 percent to settle at $68.30 a barrel on the New York Mercantile Exchange. Brent crude for February delivery dropped $0.22 or about 0.3 percent to settle at $72.09 a barrel on London's Intercontinental Exchange.
Start Research-backed Investing ...Now. Subscribe to Sapphire
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: