Brent is stable above $82 per barrel

On the oil market on Wednesday morning, there are slight changes in quotations after yesterday's increased volatility. The current price of Brent oil is $82.27 per barrel. North American WTI oil is trading near $77.64.

Market participants are expecting the upcoming OPEC+ meeting scheduled for the coming weekend. It is predicted that the issue of extending the current restrictions on oil production or a more significant reduction in production may be discussed at the meeting. 

Helima Kroft, an analyst at RBC Capital, expressed the opinion that OPEC+ has the opportunity to increase the volume of production cuts, while Saudi Arabia will probably insist on sharing this task with other countries.

Investors are also analyzing changes in energy reserves in the United States. According to the American Petroleum Institute (API), over the past week, stocks in the United States increased by about 9.1 million barrels. Official data from the US Department of Energy will be published later in the day.

It is expected that activity in the oil market by the end of the week will be reduced due to the celebration of Thanksgiving in the United States.