Oil Prices Surge as OPEC+ Meeting Approaches

As the OPEC+ meeting on December 5 approaches, where a delay in the anticipated production increase set for January is expected to be addressed, oil prices have risen. The manufacturing PMI data in China indicating growth for the second consecutive month in November and concerns over the sustainability of the ceasefire between Israel and Lebanon have pushed oil prices higher. Currently, the price of Brent crude oil stands at $72.18 per barrel, up 0.47% from Friday, while West Texas Intermediate crude oil is priced at $68.31 per barrel, up 0.46%.