The benchmark Crude WTI is up 4.40% to $82.98 today at 6.27 a.m. EST, on the back of the OPEC+ weighing a production cut of 1 million barrels a day or more. The move comes after a nearly 25% slide in oil prices from June highs. The development is a second consecutive production cut by the consortium in as many months and an expected drop in Russian oil supply could support oil prices as well. Nonetheless, global recession worries could be a counter force in this dynamic. U.S. natural gas though is down 1.96% to $6.63 today.
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