Oil slips as fears of imminent OPEC+ output cut fade

Aug 24 (Reuters) – Oil prices fell on Wednesday, taking a breather from a near 4% surge the previous day, on receding fears of an imminent output cut by the Organization of the Petroleum Exporting Countries and allies, a group known as OPEC+.

Global benchmark Brent crude futures fell 40 cents, or 0.4%, to $99.82 a barrel by 0337 GMT, after rising 3.9% on Tuesday.

The U.S. West Texas Intermediate crude futures contract was down 27 cents, or 0.29%, at $93.47 a barrel, having jumped 3.7% the previous day.

For more info click here: Reuters August 24-2022

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