Rising oil prices caused by supply cuts led by OPEC
[url=https://www.thebaghdadpost.com/ar/Story/t/4075/%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1 %D8%A7%D9%84%D9%86%D9%81%D8%B7]Oil prices[/url] jumped on Friday as supply in the markets shrank due to OPEC production cuts, but increased US supplies and concerns about a global economic slowdown trimmed gains.
Brent crude futures were $ 66.73 a barrel by 0557 GMT, up 42 cents, or 0.6 percent, from the previous settlement. WTI futures rose 29 cents, or 0.5 percent, from a previous 57.51 In Venezuela, oil exports have fallen 40 percent to about 920,000 barrels per day since the US government imposed sanctions on the oil sector on January 28. This decline comes as OPEC, a member of Venezuela, At the beginning of the year to cut production by 1.2 million barrels But there are signs of more supply in the market in 2019. The US Department of Energy said on Thursday it would put up to six million barrels of crude from the national emergency reserve to raise funds to modernize its strategic oil reserves in the United States.