Crude oil futures settle lower ahead of OPEC+ meet
The crude oil inventories in the U.S. rose by 2.77 million barrels for the week ending November 21
Crude oil futures settled lower on Friday as traders took a cautious stance ahead of the 22 oil-exporting countries’ coalition ‘Organization of the Petroleum Exporting Countries plus’ (OPEC+) members’ meeting on November 30. Further, U.S. Energy Information Administration’s data showed that the crude oil inventories in the U.S. rose by 2.77 million barrels for the week ending November 21, rebounding from a 3.426-million-barrel drop in the previous week.
Benchmark crude oil futures for January decreased $0.17 or 0.29% at $58.48 a barrel on the New York Mercantile Exchange. Brent crude for January delivery, which expired on Friday, closed down $0.14 or 0.22% to settle at $63.20 a barrel on London's Intercontinental Exchange.
