Oil weakens ahead of OPEC+ talks as demand jitters rise

WTI crude oil futures extended losses on Thursday, sliding toward $63 per barrel as traders grew cautious ahead of this weekend?s OPEC+ policy meeting, where fresh supply hikes may be discussed. Sentiment weakened further after API data showed a 0.6 million barrel build in US crude stocks, raising concerns about softer consumption. US economic indicators also pointed to slowing activity, clouding demand prospects. October WTI traded at $63.16, down 1.26%, while September crude futures on MCX slipped below ₹5,600, shedding over 1% per barrel. Traders now await the EIA?s official inventory report for clearer direction.

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