When OPEC+ ministers meet this weekend, they confront the unpalatable choice: continue to curb oil-supplies well into 2025, or risk a renewed price slump.

Crude production from Iraq, Kazakhstan, and Russia has declined in compliance with OPEC+ production cuts, supporting a modest near term upside to Brent prices, Goldman Sachs said.

U.S. and global benchmark crude prices settled mixed after a cease-fire between Israel and Iran-backed Hezbollah eliminated much of the remaining risk premium around a wider Middle Eastern conflict.

Crude oil prices have stabilized in recent weeks as traders gear up for a meeting of OPEC and its allies. There are signs that OPEC and its partner oil producing countries will once again put off restoring some output. But at the same time, a cease-fire agreement between Israel and Hezbollah has eased geopolitical risk.

Meanwhile, calls by President-elect Donald Trump and proposed cabinet members to significantly boost U.S. crude production pose a potential threat to OPEC+ market share, though sk

Oil prices held steady on Wednesday as markets evaluated a ceasefire deal between Israel and Hezbollah while also anticipating Sunday's OPEC+ meeting, where the group could delay a planned increase in oil output.

Crude oil futures held steady on Wednesday on their way to break a two-day losing streak, while market participants expect OPEC+ to postpone production increase

Gaza Oil prices remained steady on Wednesday after Israel and Hezbollah agreed to a ceasefire, while traders weighed the possibility of Opec+ further extending output cuts. Brent, the benchmark for two thirds of the world's oil,

Oil prices picked up on Tuesday, after the previous session's sell-off, as the market assessed U.S. President-elect Donald Trump's planned trade tariffs on Mexico and Canada and his aim to increase U.