A barrel of European reference oil, Brent, sits at USD 48.17 Thursday morning against USD 48.38 the night leading up to Thursday. Wednesday afternoon a barrel cost USD 47.92. The US WTI oil is concurrently traded at USD 45.16 Thursday morning against USD 45.40 leading up to Thursday. Wednesday afternoon, WTI traded at USD 45.09.
According to Reuters, OPEC and Russia are set to continue their talks Thursday about whether to extend a production cut until 2021, after the parties failed to reach agreement during earlier talks.
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