Oil prices hold steady as OPEC+ postpones meeting and geopolitical tensions rise

Oil prices have remained stable this week, fluctuating between $72 and $73 per barrel. OPEC+ has postponed its meeting to December 5, as members discuss potential output changes and compensation cuts. Geopolitical tensions are rising, with Iran planning to install more uranium-enriching centrifuges, and Russia intensifying attacks on Ukraine's energy infrastructure. These developments could influence oil prices in the coming weeks. In other news, Mexico has frozen new oil service contracts amid budget cuts, while China is set to import record amounts of thermal coal. Additionally, ADNOC has launched a new low-carbon business unit, XRG, to focus on natural gas and sustainable energy.