Crude Oil Prices Set To Finish Week With Major Gain

Crude oil prices are set to finish the week on a high note, with WTI rising more than $10 per barrel this week as OPEC+ agreed to slash its production targets for November by 2 million barrels per day. The November contract WTI prices rose to $92.35 (+4.43%) on Friday afternoon, despite the better-than-expected Friday jobs report that will most certainly translate into even higher inflation, and as such, further Fed rate hiking. The recent rate hikes have helped to keep oil prices in check at a time when U.S. crude inventories are below the five-year…