Oil prices on track for weekly loss after OPEC+ fails to soothe supply worries
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 06 2024
0mins
Source: MarketWatch
Oil Futures Decline: Oil futures experienced a drop on Friday, heading towards weekly losses following OPEC's decision to delay reversing production cuts, which did not alleviate concerns about a potential crude surplus.
Market Sentiment: Experts indicate that OPEC is currently limited in its ability to influence the market effectively, as stated by Joseph Skyora from Aptus Capital Advisors.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
