Warm Winter Weather Dips Oil Prices Despite OPEC+ Cut Extension Oil prices experienced a slight decline on Monday, despite OPEC+ announcing an extension of its voluntary output cuts through the middle of the year. This decision, aimed at stabilizing the market amidst global economic uncertainties and increased production outside the OPEC+ group, did not offset the dampening effects of warm winter weather on demand. Brent futures dropped 81 cents to $82.74 a barrel, and U.S. West Texas Intermediate (WTI) decreased by $1.20 to $78.77 a barrel, despite both experiencing gains in the previous week. The continuation of the 2.2 million barrels per day cuts by OPEC+ reflects the complex interplay between production decisions and fluctuating demand factors in the global oil market. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts The Dark Side of Economic Anxiety: Gen Z's Growing Tolerance for Digital Deception READ MORE Dollar Climbs Higher as Global Interest Rate Policies Diverge READ MORE India's Gold Duty Cut Diminishes Dubai's Appeal for Shoppers READ MORE Wall Street Rebounds: S&P 500 Posts Biggest Gain Since February READ MORE China Commands 80% of Global Solar Silver Supply Chain READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment