Oil slips on buildup in US gasoline stocks; eyes on weekend OPEC+ meeting

Oil prices eased after a surprise jump in US gasoline inventories on Thursday, with investors focusing on the OPEC+ meeting later this week to discuss oil production policy. While US West Texas Intermediate crude futures were also down 14 cents. 0.2%, at $68.58 per barrel. Trading is expected to be lighter as the US Thanksgiving holiday begins on Thursday. Oil is likely to maintain bearish momentum in the near term as risks of supply disruptions in the Middle East diminish and build on this. U.S. gasoline inventories higher than expected, Yeap Jun Rong, a market strategist at IG.US, said gasoline stocks rose by 3.3 million barrels in the week ended Nov. 22, the U.S. Energy Information Administration (EIA) said on Wednesday. ,Confronted by expectations of lower fuel stockpiles ahead of record holiday travel, lower fuel demand among top U.S. consumers and China have weighed heavily on oil prices this year, even as supply from OPEC+ The decline in the Organization of the Petroleum Exporting Countries (OPEC), Russia and other allied countries, has limited losses. The PEC+ meeting will be held on Sunday. Two sources in the producer group told Reuters on Tuesday that the members-Discussing further delays in oil production beginning in January. A further delay, as expected by many in the market, has already been factored into most oil prices, said Surv Sarkar, head of the energy sector team. In DBS Bank. The only question is whether it is a pushback of one month, or three months, or even more. This will give some direction to the oil market. On the other hand, if we are not delayed, then we are oil