Front-month U.S. crude settled lower by $1.03, or 1.4% to $74.61 per barrel. Benchmark Brent was down for a sixth session to $78.62, Reuters reports.
The Organization of Petroleum Exporting Countries will meet later this month and the gathering could determine if it will cut production. Saudi Arabia, the most powerful member of OPEC, according to Reuters, increased crude shipments in September, despite evidence of an oversupplied market.
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In a research note from November 17 Goldman Sachs said Brent prices may have to go as low as $60 in order to get production to slow down, if OPEC doesn't agree to cut production at the November 27 meeting in Vienna, Reuters noted.
Other airline stocks rising today include JetBlue Airways (JBLU) , higher by 3.03% to $12.75, Southwest Airlines (LUV) , up by 1.84% to $39.79, and Delta Air Lines (DAL) gaining by 3.42% to $44.92 this afternoon.
Separately, TheStreet Ratings team rates UNITED CONTINENTAL HLDGS INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation: