Oil Futures Trade Sideways as Attention Turns to OPEC+ -- Market Talk

Dow Jones

2025/01/30

0950 ET - Oil futures are steady with the market starting to wonder how OPEC and its allies may respond to President Trump's call for the group to help lower prices at their meeting next week. OPEC+ has several times extended 2.2 million barrels a day in voluntary output cuts to hold up prices, and is currently scheduled to start unwinding the cuts in April. Participants are also paying attention to commerce nominee Howard Lutnick's comments that crude suppliers Mexico and Canada could avoid threatened 25% import tariffs if they contain fentanyl and migrant flows into the U.S. WTI is up 0.4% at $72.91 a barrel, and Brent is up 0.5% at $76.93.(anthony.harrup@wsj.com)

(END) Dow Jones Newswires

January 30, 2025 09:50 ET (14:50 GMT)

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