# @benzinga on Instagram

- **Type:** Image
- **Original URL:** https://www.instagram.com/p/C0CzH4YLgpI
- **Gondola URL:** https://gondola.cc/posts/17858288-benzinga-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/thumbnails/d3742acfd8.jpg
- **Posted:** 2023-11-24T21:23:10.000+00:00
- **Account Owner:** Benzinga | News That Moves (@benzinga) — https://gondola.cc/benzinga

## Caption

Oil prices fell during afternoon trade on Friday, as OPEC+ was reported to be close to a deal that will bring more oil onto the market from African-producing members of the oil cartel.

In mid-afternoon trade, Brent Crude was down 1.3% at $80.35 a barrel, while US West Texas Intermediate fell 2.4% to $75.27 a barrel. The United States Oil Fund  an exchange-traded security that tracks the price of light sweet crude, fell 1.1% to $70.83.

African Producers Unhappy: Members of the Organization of Petroleum Exporting Countries and its allies were supposed to be meeting this weekend at the cartel’s headquarters in Vienna to discuss current quotas — with Saudi Arabia and Russia, the world’s biggest two producers, expected to cut their output to stabilize falling prices.

Angola and Nigeria, however, unhappy with their new quotas — at 1.28 million barrels a day and 1.38 million b/d respectively — set for them at the June meeting, forcing the group into discussions and the cancellation of Sunday’s meeting.
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#crudeoil #opec #angola

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## Tags

crudeoil, opec, angola

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