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Transcontinental geopolitical region
The Middle East is a geo-political region that is generally defined as encompassing all of Egypt and all of West Asia except for the Caucasus. It roughly corresponds with what was historically referred to in Western Europe as the Near East, which was juxtaposed with the Far East. Unlike West Asia's adherence to continental boundaries, the Middle East is demarcated by following political borders and consequently includes East Thrace in Southeast Europe because it is a part of Turkey.
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OPEC+ seven core members kept November production ceilings unchanged. Ongoing Middle East conflict and export disruptions mean actual output remains below quotas, sustaining tight oil market conditions.
West Texas Intermediate (WTI) oil price extends its losses for the second successive day, trading around $89.30 during Asian hours on Monday.
The seven core members of the OPEC+ producer alliance have agreed to maintain their September oil production targets for November