Oil prices experienced a slight decrease on Friday following the announcement of the postponement of the OPEC+ semiannual meeting, which was originally scheduled for Thursday.
In morning trading, the price of North Sea Brent crude for January delivery—its last day of trading—declined by 0.66%, reaching $72.80.
Meanwhile, West Texas Intermediate (WTI) crude, also set for delivery in January, fell by 0.20% to $68.58.
Analysts continue to support the extension of additional voluntary production cuts from the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+).
The meeting of the 22 OPEC+ ministers, initially slated to occur online this Sunday, has been postponed until next Thursday. According to a press release from the organization, the delay is due to several ministers attending the 45th Gulf Summit this weekend in Kuwait.
