Oil eases over demand worries ahead of OPEC+ meeting

Oil prices fell about 1% in early trade on Wednesday before paring some losses, ahead of a meeting OPEC+ producers on fears of a slowdown in global growth hitting fuel demand and a firmer dollar, News.Az reports citing Reuters. 

Brent crude futures were last down 38 cents, or 0.4%, at $100.16 a barrel at 0345 GMT. West Texas Intermediate (WTI) crude futures slid 35 cents, or 0.4%, to $94.07 a barrel.

The Organization of the Petroleum Exporting Countries and allies including Russia, together known as OPEC+, meet on Wednesday. OPEC+ sources told Reuters last week that the group will likely keep output unchanged in September, or raise it slightly.


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