Citing two sources from the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, known collectively as OPEC+, Reuters reported that the group has left the oil output policy unchanged following a meeting of the top ministers.

Market reaction

Crude oil prices showed no immediate reaction to this headline. As of writing, the barrel of West Texas Intermediate (WTI) was trading at $79.28, where it was up 0.35% on a daily basis. Similarly, the barrel of Brent was up 0.25% at $85.60.