Oil prices rise after a historic agreement of "OPEC +"
09:20 - 13/04/2020
Oil prices rose during trading today, Monday, after "OPEC" and its partners agreed to reduce "historic" production, amid the crisis of the spread of the Corona virus in the world.
The "Brent" mix was trading at $ 32.68 a barrel, an increase of 3.81% from the previous closing session, while the American mix "West Texas Intermediate" increased by 3.78% to $ 23.62 a barrel.
And OPEC + countries, led by Russia and Saudi Arabia, announced on Sunday evening "the largest production cut in history", in the hope that this would contribute to raising the price of oil amid the spread of the Covid-19 epidemic.
According to the agreement, a group of oil countries will reduce production starting next May by about 10 million barrels per day, provided that these cuts are reduced until April 2022. End / 25