Oil Prices Edge Up on Potential OPEC+ Output Delay

Oil prices have risen as OPEC+ contemplates postponing its planned December oil production increase. Sources familiar with OPEC+ discussions suggest the delay could last at least a month, citing concerns over soft oil demand and rising supply. This potential decision, which could be announced as early as next week, comes in response to market volatility and aims to stabilize oil prices. The news has contributed to a slight uptick in oil prices, with additional support coming from unexpected drawdowns in U.S. fuel inventories.