Oil down as investors await fresh OPEC+ supply cut plan

ANKARA-Oil prices dipped but mostly held steady during early Asian trade as investors remained cautious ahead of anticipated OPEC+ production cutbacks to be announced this week. International benchmark crude traded at $88.65 per barrel at 09.46 a.m. local time (0646 GMT), a 0.39% loss from the closing price of $89.00 a barrel in the previous trading session on Monday. The American benchmark West Texas Intermediate (WTI) traded at the same time at $85.70 per barrel, down 0.32% from the previous session’s close of $85.98 per barrel. Both benchmarks held earlier gains and remained steady, with investors weighing market tightness in the aftermath of prospective supply cuts from Russia and Saudi Arabia.

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