With oil prices headed for a second annual decline and a widely expected surplus in 2025 fast approaching, bullish traders are clinging to positive signals in downstream markets.

The Secretariat said that the postponement is owing to several ministers attending the summit in Kuwait.

Oil prices were flat in early Asian trading. The market is waiting for the next move by OPEC, ANZ research analysts said.

Crude oil inventories in the US fell more than expected in the week ended November 22 as imports plunged, the US EIA said.

“OPEC+ are stuck between a rock and a hard place,” said Harry Tchilinguirian, head of oil research at Onyx Commodities Ltd.

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