Brent crude futures for January settled 27 cents, or 0.3%, lower to expire at US$82.83 a barrel. US West Texas Intermediate crude futures settled down US$1.90, or 2.4%, to US$75.96.
WASHINGTON: Oil prices fell by more than 2% on Thursday after Opec+ producers agreed to voluntary oil output cuts for the first quarter next year that fell short of market expectations.
Brent crude futures for January settled 27 cents, or 0.3%, lower to expire at US$82.83 a barrel, and a 5.2% loss for the month. The February contract, which begins trading as the front month on Friday, fell US$2.00, or 2.4%, to US$80.86.
