Oil Falls as OPEC+ Seeks to Resolve Pre-Meeting Output Dispute
- Cartel is working to strike an agreement on African quotas
- Hamas releases 24 hostages under four-day truce agreement
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Oil dropped after struggling for direction in a low-volume session as OPEC+ tries to resolve a disagreement over output quotas that forced the group to postpone a pivotal meeting.
The Organization of Petroleum Exporting Countries and its partners are reviewing the demands made on African members by an earlier deal, working to tweak the 2024 targets set for Angola and Nigeria, according to a delegate. Meanwhile, Hamas released 24 hostages held in Gaza under a four-day truce agreement with Israel, eroding the risk premium generated by the war.