Oil has fallen precipitously from its September highs, says David Williams, which puts pressure on Saudi Arabia to keep prices high. However, production is still high, so OPEC+ will have to decide if they should cut or not. The meeting was rescheduled to Nov. 30 from Nov. 26. Seasonality also has influence on crude prices, with natural gas demand for heating rising and demand for oil dropping.
Futures
24 Nov 2023
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