ChatGPT said: Oil prices extended losses for a fourth straight session on Wednesday as investors weighed doubts over the impact of US sanctions on Russia and reports that OPEC+ may raise production in December. Brent crude slipped 7 cents to $64.33 a barrel, while US West Texas Intermediate (WTI) eased by the same margin to $60.08. American Petroleum Institute data showed US crude stocks fell by 4.02 million barrels last week, while gasoline and distillate inventories dropped by 6.35 million and 4.36 million barrels respectively, offering brief support to prices. Analysts said the drawdowns spurred a short-lived rally, but market sentiment remained capped by uncertainty over sanctions and production policy. OPEC+ is reportedly considering a modest output hike of about 137,000 barrels per day (bpd) next month. The US recently imposed fresh sanctions on Russian oil majors Lukoil and Rosneft, prompting some Indian refiners to pause new orders, though Indian Oil said it would continue purchases within sanction limits. Traders now await the Federal Reserve's policy decision and an expected US-China meeting, which could influence broader market sentiment. Attribution: Reuters ChatGPT said:Oil prices extended losses for a fourth straight session on Wednesday as investors weighed doubts over the impact of U.S. sanctions on Russia and reports that OPEC+ may raise production in December
