Oil futures rise on OPEC+ supply cut expectations
Oil futures rose on expectations of OPEC+ deepening supply cuts. Brent crude reached $80.72 a barrel, up 0.1%, while U.S. West Texas Intermediate crude was at $75.97 a barrel, up 8 cents. OPEC+ may consider additional cuts at their Nov. 26 meeting. Goldman Sachs analysts suggest deeper cuts due to falling speculative positioning and higher inventories. WTI prices may rise to $80, but a drop below $72 could prompt U.S. Strategic Petroleum Reserve refilling.