Oil Gains Ahead of OPEC+ Meeting as Black Sea Shutdowns Support

Oil Gains Ahead of OPEC+ Meeting as Black Sea Shutdowns Support
An oil and gas industry worker walks during operations of a drilling rig at Zhetybay field in the Mangystau region, Kazakhstan, on Nov. 13, 2023. Turar Kazangapov/Reuters
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LONDON—Oil prices rose on Wednesday as investors turned their attention to an OPEC+ meeting to decide on output policy, while supply disruption caused by a storm in the Black Sea and lower U.S. inventories drove buying.

Brent crude futures climbed 86 cents, or 1.1 percent, to $82.54 a barrel at 1031 GMT. U.S. West Texas Intermediate (WTI) crude futures gained 93 cents, or 1.2 percent, at $77.34 a barrel.