The oil cartel’s recent decision could mitigate global oil supply glut fears.An installation depicting barrel of oil with the logo of Organization of the Petroleum Exporting Countries (OPEC) is seen during the COP29 United Nations climate change conference in Baku, Azerbaijan. Maxim Shemetov/File Photo/Reuters11/3/2025|Updated: 11/3/2025Crude oil prices were little changed on Nov. 3, shrugging off OPEC+’s plans to pause its supply increase in the first quarter of 2026.The U.S. benchmark West Texas Intermediate crude oil prices dipped about 0.3 percent, to around $60.80 a barrel on the New York Mercantile Exchange.Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of “The War on Cash.”Author’s Selected Articles
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Ottawa
Tuesday, February 3, 2026
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