Crude oil futures settled lower on Wednesday after data showed a notable increase in crude inventory in the U.S., and the Organization of Petroleum Exporting Countries (OPEC) postponed a key meeting by four days.
OPEC and allies, collectively known as OPEC+, were scheduled to meet on Sunday (November 26) to decide, among other things, their stance on output cuts. The meeting is now postponed to November 30th.
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Market Analysis
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.