Oil Futures Decline as Traders Anticipate Saudi Production Increase

Sep 30, 2024

Oil futures started to fall on the last trading day of the third quarter, as traders sold off in anticipation of Saudi Arabia's plan to increase oil production in December.

According to a report by Ritterbusch and Associates, the market shift is primarily due to Saudi Arabia's recent decision to boost production, which is expected to be a major bearish factor in the coming weeks.

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