{"id":50191,"date":"2023-10-02T20:35:27","date_gmt":"2023-10-02T20:35:27","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/oil-up-as-investors-await-opec-production-decision"},"modified":"2023-10-02T21:24:01","modified_gmt":"2023-10-02T21:24:01","slug":"oil-up-as-investors-await-opec-production-decision","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/oil-up-as-investors-await-opec-production-decision","title":{"rendered":"Oil up as investors await OPEC production decision"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Malawi. <\/strong><\/span>Oil prices increased on Monday over supply worries ahead of a highly anticipated meeting of OPEC-producing countries on Wednesday, while improving factory activity in China also contributed to price rises.<\/p>\n<p>International benchmark crude Brent traded at $92.56 per barrel at 11.08 a.m. local time (0808 GMT), a 0.39% gain from the closing price of $92.20 a barrel in the previous trading session on Friday.<\/p>\n<p>The American benchmark West Texas Intermediate (WTI) traded at the same time at $91.28 per barrel, up 0.54% from Friday\u2019s close of $90.79 per barrel.<\/p>\n<p>Oil prices rallied during patchy early Asian trade over lingering uncertainties as market players focused on the upcoming OPEC group\u2019s Joint Ministerial Monitoring Committee (JMMC) on Wednesday.<\/p>\n<p>\u201cOPEC+ JMMC is likely to recommend that production cuts are maintained at current levels, due to the uncertain economic outlook, and despite a clearly tightening supply backdrop, with weekly US EIA (Energy Information Administration) inventories likely to show inventories remain very low,\u201d ADM Investor Services&#8217; Chief Global Economist Marc Ostwald said in an e-mailed note.<\/p>\n<p>A rebound in China\u2019s industrial data for September also boosted prices.<\/p>\n<p>According to official data released on Sunday, China&#8217;s factory activity increased in September for the first time in six months, adding to a growing number of indicators that the world&#8217;s second-largest economy is becoming more stable.<\/p>\n<p>The National Bureau of Statistics (NBS) on Sunday disclosed an increase in China&#8217;s official Purchasing Managers&#8217; Index (PMI) to 50.2, exceeding expectations.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/malawi\">Malawi<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Malawi. Oil prices increased on Monday over supply worries ahead of a highly anticipated meeting of OPEC-producing countries on Wednesday, while improving factory activity in China also contributed to price rises. International benchmark crude Brent traded at $92.56 per barrel at 11.08 a.m. local time (0808 GMT), a 0.39% gain from the closing [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":50190,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,371,6035,234,2801,7029],"class_list":["post-50191","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-malawi","tag-brent","tag-malawi","tag-oil-prices","tag-west-texas-intermediate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Oil up as investors await OPEC production decision - Malawi<\/title>\n<meta name=\"description\" content=\"Oil prices increased on Monday over supply worries ahead of a highly anticipated meeting of OPEC-producing countries on ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/oil-up-as-investors-await-opec-production-decision\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil up as investors await OPEC production decision\" \/>\n<meta property=\"og:description\" content=\"Oil prices increased on Monday over supply worries ahead of a highly anticipated meeting of OPEC-producing countries on ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/oil-up-as-investors-await-opec-production-decision\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-02T20:35:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-02T21:24:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2023\/10\/sm_1696268158.816228.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"805\" \/>\n\t<meta property=\"og:image:height\" content=\"453\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/oil-up-as-investors-await-opec-production-decision#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/oil-up-as-investors-await-opec-production-decision\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Oil up as investors await OPEC production decision\",\"datePublished\":\"2023-10-02T20:35:27+00:00\",\"dateModified\":\"2023-10-02T21:24:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/oil-up-as-investors-await-opec-production-decision\"},\"wordCount\":258,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/oil-up-as-investors-await-opec-production-decision#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2023\/10\/sm_1696268158.816228.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Brent\",\"Malawi\",\"Oil prices\",\"West Texas Intermediate\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/oil-up-as-investors-await-opec-production-decision#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/oil-up-as-investors-await-opec-production-decision\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/oil-up-as-investors-await-opec-production-decision\",\"name\":\"Oil up as investors await OPEC production decision - 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