Oil Prices Plunge by 4% as OPEC+ Postpones Meeting

Oil prices plummeted by 4% on Wednesday after OPEC officially confirmed that the OPEC+ meeting scheduled for this weekend would be postponed to November 30. The U.S. benchmark, WTI Crude, crumbled by 4.37% to below $75 a barrel, to $74.55, while Brent Crude, the international benchmark, dived below the $80 a barrel threshold, at $79.12, down by 4.26% on the day. The plunge in oil prices followed a brief statement from OPEC, which said today that the OPEC+ meetings, originally planned for November 25 and 26, 2023, have been rescheduled to Thursday,…