Reuters
LONDON (Reuters) -Oil fell on Wednesday, as pledges by Saudi Arabia and Russia to continue crude output cuts to the end of 2023 were offset by demand fears stemming from macroeconomic headwinds. Brent crude oil futures were down $1.51, or 1.66%, to $89.41 a barrel at 1206 GMT, while U.S. West Texas Intermediate crude (WTI) fell $1.59, or 1.78%, to $87.64 per barrel. The OPEC+ Joint Ministerial Monitoring Committee (JMMC) online meeting on Wednesday kept the group's output policy unchanged, two sources said while the meeting was underway.