Oil prices surge before critical OPEC meeting as volatility spikes

World Oil | Dec 1, 2021 at 1:00 AM
  • Oil rebounded from another sharp drop as OPEC ministers prepared to meet amid booming volatility.
  • Crude’s deteriorating fundamentals are reflected in a weakening price structure along the curve, while technical selling has also reinforced the market’s recent downward spiral.
  • Yet Goldman Sachs Group Inc. said Tuesday that oil prices have now “far overshot“ the likely impact of omicron.