Oil down more than 1% as uncertainty swirls over delayed OPEC+ meeting

OIL prices fell by more than 1% on Thursday, extending losses from the previous session, after OPEC+ postponed a ministerial meeting, leading to speculation that producers might cut output less than earlier anticipated.

Brent futures were down $1.02, or 1.2%, at $80.94 a barrel by 0625 GMT, after falling as much as 4% on Wednesday. U.S. West Texas Intermediate crude dipped 87 cents, or 1.1%, to $76.23, after declining as much as 5% in the previous session.