Oil prices dipped roughly 1% on Thursday, extending losses from the previous session, after OPEC+ postponed a meeting, triggering speculation that the group may not deepen output cuts next year due to dissenting African members.
Brent futures were down 85 cents
Oil prices dipped roughly 1% on Thursday, extending losses from the previous session, after OPEC+ postponed a meeting, triggering speculation that the group may not deepen output cuts next year due to dissenting African members.
Brent futures were down 85 cents, or about 1%, at $81.11 a barrel by 0916 GMT, after falling as much as 4% on Wednesday.
U.S. West Texas Intermediate crude slid 71 cents, also about 1%, to $76.39, after declining as much as 5% in the previous session.
Saudi-backed Yemeni government forces have staged a counteroffensive to retake the coast around the Bab el-Mandeb shipping route and other strategic territory seized last month by the Iran-aligned Houthis, in a complex conflict with shifting alliances.
A flydubai co-pilot stabbed his captain with an emergency "crash axe" in what UAE prosecutors have called a terrorist attack, with the plane plunging 16,000 feet in 30 seconds before it was brought under control by passengers and a stand-by crew.
Eighty-five percent of African private-sector transactions are conducted with companies outside the continent. Egyptian President Abdel Fattah El-Sisi used that figure on Saturday to open the inaugural Alamein Africa Forum, a three-day business summit in the Mediterranean city of El-Alamein.
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