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Oil prices continue to rise, exceeding $ 64
12:06 - 04/03/2021
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The information / Baghdad ..
Oil prices rose for the second consecutive session, Thursday, as they received support from the possibility of "OPEC +" producers taking a decision against increasing production at an important meeting to be held later today.
Brent crude futures rose 0.8 percent to $ 64.60 a barrel, by 05:53 GMT, after rising more than 2 percent on Wednesday.
West Texas Intermediate crude futures rose 0.8 percent as well, to $ 61.74 a barrel.
Three sources in the "OPEC +" group, which includes the Organization of the Petroleum Exporting Countries (OPEC) and its allies, said that the group is considering extending production cuts until April, instead of increasing production, as the recovery in oil demand is still fragile due to the Corona virus crisis.
The market expected that OPEC would reduce production cuts by about 500 thousand barrels per day as of next April, and that Saudi Arabia, the largest producer in OPEC, would end a voluntary reduction of its production by an additional one million barrels per day. End / 25
Oil prices rose for the second consecutive session, Thursday, as they received support from the possibility of "OPEC +" producers taking a decision against increasing production at an important meeting to be held later today.
Brent crude futures rose 0.8 percent to $ 64.60 a barrel, by 05:53 GMT, after rising more than 2 percent on Wednesday.
West Texas Intermediate crude futures rose 0.8 percent as well, to $ 61.74 a barrel.
Three sources in the "OPEC +" group, which includes the Organization of the Petroleum Exporting Countries (OPEC) and its allies, said that the group is considering extending production cuts until April, instead of increasing production, as the recovery in oil demand is still fragile due to the Corona virus crisis.
The market expected that OPEC would reduce production cuts by about 500 thousand barrels per day as of next April, and that Saudi Arabia, the largest producer in OPEC, would end a voluntary reduction of its production by an additional one million barrels per day. End / 25
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