Crude oil prices continued to advance, rising by more than 1% on Wednesday, with traders still digesting the decision by the Organization of the Petroleum Exporting Countries and its partners (OPEC+) to increase its oil production by 137,000 barrels per day in November, signifying a smaller output hike than expected.
The West Texas Intermediate (WTI) for deliveries in November grew by 1.43% at 7:50 am ET, going for $62.61 per barrel. Meanwhile, Brent for December’s settlements climbed by 1.28% to $66.29 per barrel at 7:52 am ET.