Oil Slips to $78 as Sources Say OPEC+ Weighs Further Output Hikeon October 1, 2021 at 10:48 am

LONDON—Oil fell to around $78 a barrel on Friday on the prospect that OPEC+ producers might step up a planned increase in output to ease supply concerns, although crude remained in sight of a three-year high reached this week. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, meet on Monday. Four OPEC+ sources said on Thursday the group was looking at going beyond an existing deal to add 400,000 barrels per day to supply each month. Beyond October, “a faster ramp-up in OPEC+ production cannot be excluded,” said Stephen Brennock of oil broker PVM. “The prospect of $80 oil does not sit well with the producer group.” Brent crude fell 47 cents, or 0.5 percent, to $77.84 at 1015 GMT, heading for a weekly decline after three weeks of gains. U.S. West Texas Intermediate (WTI) slipped 53 cents to $74.50, set for a sixth consecutive week …

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Stocks Head Into Stormy October, Dollar Defies Ugly Moodon October 1, 2021 at 11:07 am

Fri Oct 1 , 2021
LONDON—European stocks sank to two-month lows on Friday after slides in Asia and on Wall Street, with euro zone inflation data expected to hit a 13-year high to compound investor fears over surging prices combining with stuttering growth. On the first day of October, the month for some of history’s […]

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