Oil set for weekly loss on surplus fears after OPEC+ cut extensions
December 6, 2024
(Investing) – Oil prices fell 1% on Friday and were headed for a weekly loss, as analysts continued to forecast a supply surplus in 2025 despite the OPEC+ decision to postpone planned supply increases and extend deep output cuts to the end of 2026. Brent crude futures were down 72 cents, or 1%, to $71.37 per barrel at 1415 GMT. U.S. West
