67 Days
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CNN Arabic
Oil drops amid OPEC+ output boost
Global oil prices declined following the OPEC+ decision to increase production by 188,000 barrels per day for the fifth consecutive time since the start of the war with Iran. Brent futures dropped to $71.87 per barrel, while West Texas Intermediate fell to $68.64. Despite the price decrease, Goldman Sachs forecasts that oil prices will average $75 next year. Additionally, the decline in oil prices is reducing gasoline costs in the United States. The movement of oil tankers continues to face challenges, as some vessels have taken alternative routes along Iran and Oman's coasts, amid Iranian warnings against using those unapproved routes.
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