Oil prices were little changed on Wednesday ahead of a meeting of OPEC+ producers to discuss a big cut in crude output after gaining more than 3% in the previous session.

The Association of Natural Rubber Producing Countries (ANRPC) releases the Monthly NR Statistical Report, August & September 2022. 

Core consumer prices in Japan's capital, a leading indicator of nationwide inflation, rose 2.8% in September from a year earlier, exceeding the central bank's 2% target for a fourth straight month and marking the biggest gain since 2014.

Oil prices edged up on Tuesday as expectations that OPEC+ may agree to a large cut in crude output when it meets on Wednesday outweighed concerns about the global economy.

Asia's factory output mostly weakened in September as slowing demand in China and advanced economies added to the pain from persistent cost pressures, surveys showed on Monday, clouding the region's economic recovery prospects.

Oil prices jumped more than 3% in early Asian trade on Monday, as OPEC+ considers cutting output by more than 1 million barrels a day for its biggest reduction since the pandemic, in a bid to support the market.