Oil Edges Lower as OPEC+ Keeps Its Next Moves Close to Chest
- JMMC meets online as pandemic continues to depress demand
- Market keeping close eye on stimulus talks in Washington
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Oil in New York fell slightly under $41 a barrel after the OPEC+ Joint Ministerial Monitoring Committee made no mention of any changes to a plan to further ease oil-output cuts from January.
Still, Saudi Oil Minister Prince Abdulaziz Bin Salman called on the OPEC+ alliance to be proactive in the face of uncertain demand, providing some reassurance for the market. Traders also are looking for signs that lawmakers in Washington can agree on a stimulus deal ahead of the election while a resurgence in the pandemic threatens any recovery.