00:00It's Benzinga bringing Wall Street to Main Street
00:02OPEC Plus agreed Sunday to keep oil production targets unchanged for November as output remains
00:07well below quotas amid export disruptions tied to the U.S.-Israeli war on Iran, according to
00:12The Wall Street Journal. The seven core members pumped 25 million barrels per day in August,
00:17about 5 million barrels per day below pre-war levels in February. UBS analyst Giovanni Stanovo
00:23said the oil market remains tight even as flows through the Strait of Hormuz rise. Brent crude
00:27closed Friday at $102.25 per barrel, while West Texas Intermediate settled at $91.11. The G7
00:35separately announced plans to release 100 million barrels of reserves over four months to ease
00:40fuel prices. The group will meet on November 1st. For all things money, visit benzinga.com.
