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Oil Extends Losses on Expected OPEC+ Supply Boost


Oil prices extended losses on Monday on expectations of higher OPEC+ production from October while signs of sluggish demand in China and the United States raised concerns about future consumption growth.

Brent crude futures were down 56 cents, or 0.7%, at $76.37 a barrel, while US West Texas Intermediate crude slipped 45 cents, or 0.6%, to $73.10.

Brent and WTI had lost 0.3% and 1.7% respectively last week.

Source: Qatar News Agency