Oil prices rise ahead of OPEC and other key oil producers' meeting

Arnima Dwivedi

Arnima DwivediBy Arnima Dwivedi

Published on 22 Nov 2017 3:47 AM GMT

Oil prices rise ahead of OPEC and other key oil producers meeting
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New York: Oil prices climbed on Tuesday as investors were awaiting the closely-watched OPEC (Organisation of the Petroleum Exporting Countries) meeting next week, a media report said.

OPEC and other key oil producers will meet on November 30 to discuss whether to extend the current price-supporting curbs on crude output, Xinhua news agency reported.

In a bid to end a global oversupply, the group has been restraining output since the start of this year.

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It is expected that the agreement will be extended to cover the next year.

Meanwhile, a weak dollar boosted market sentiment for the dollar-priced oil. The dollar index, which measures the greenback against six major peers, was down 0.14 per cent at 93.92 in late trading.

--IANS

Arnima Dwivedi

Arnima Dwivedi

A journalist, presently working as a sub-editor with newstrack.com. I love exploring new genres of humans and humanity.

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