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Oil prices fell 2% on Friday as OPEC+ moved ahead with plans to raise output from October. Libyan production losses, reported at about 63% of national output, partly offset the supply increase.
Expected OPEC+ supply additions cap crude prices, lowering energy input costs for feed and biofuel chains, while Libyan disruptions provide only partial support.
db.forbesmiddleeast.comJoyce Abaño, Samra Ahmed, James EmmanuelAug 30, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
