Tag Archives: Oil steadies after rally on symbolic Opec+ output cut

Oil steadied on Tuesday after a two-day rally as Opec+’s decision to cut output in October was balanced by concern about a weak economic outlook and the prospect of more interest rate hikes. The Organisation of Petroleum Exporting Countries and allies led by Russia, known as Opec+, decided to cut output targets by 100,000 barrel per day after Saudi Arabia voiced concern …

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