Oil prices have steadied after a recent decline, with traders looking ahead to an upcoming OPEC+ meeting on Thursday.
The current trading price for West Texas Intermediate is around $69 per barrel, following a 2% drop on Wednesday. Meanwhile, Brent crude has closed above $72.
The Organization of the Petroleum Exporting Countries and its allies are reportedly close to reaching an agreement to delay any increase in supply. This decision is aimed at preventing a potential oversupply in the market, particularly as concerns about a surplus in 2025 continue to grow.