Oil Prices Sink as OPEC+ Weighs October Output Hike

Crude oil markets faced sharp selling pressure this week as traders digested a mix of bearish supply signals from OPEC+, a surprise inventory build in the U.S., and growing expectations for looser monetary policy from the Federal Reserve. WTI front-month futures settled at $63.30 on Thursday, down over 1% for the week and marking their lowest close since August 20. Traders remain laser-focused on the upcoming OPEC+ meeting this Sunday, where eight member nations are expected to push for additional supply increases starting in October. This potential…