Oil Gains. Focus on OPEC+ Meeting, China Demand.

Oil Gains. Focus on OPEC+ Meeting, China Demand.

Oil prices were rising in early European trade but remained in a narrow range ahead of an OPEC+ output policy meeting on Thursday.

Both crude benchmarks Brent and WTI were up 1% to $72.52 and $68.81 a barrel, respectively.

“Investors are in wait-and-watch mode,” ANZ Research analysts said. “The market is widely expecting that the cartel will delay its planned production restart beyond January 2025 to rebalance the market and protect prices.”