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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Despite the "OPEC +" agreement to gradually reduce production, oil prices continue to rise

    Rocky
    Rocky
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    Despite the "OPEC +" agreement to gradually reduce production, oil prices continue to rise Empty Despite the "OPEC +" agreement to gradually reduce production, oil prices continue to rise

    Post by Rocky Fri 02 Apr 2021, 6:42 am

    [size=35][size=35]Despite the "OPEC +" agreement to gradually reduce production, oil prices continue to rise[/size]
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    Economie

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    2021-04-02 | 04:42
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    [/size]


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    On Friday, oil prices continued to rise despite news that the "OPEC +" group reached an agreement to gradually reduce production cuts, starting next May.


    By 06:30 GMT, Brent crude rose 2.12% to $ 64.86 a barrel, and the crude ended Thursday's trading with a 3.4% increase, according to website data.[You must be registered and logged in to see this link.]".

    Whereas, US West Texas Intermediate crude prices witnessed an increase of 3.87% to $ 61.45 a barrel, and the crude closed yesterday, up 3.9%.







    The "OPEC +" group, which is made up of the Organization of the Petroleum Exporting Countries (OPEC), agreed[You must be registered and logged in to see this link.] Producers are allies to ease production restrictions by 350,000 barrels per day next May, and the same in June, and then by 400,000 barrels per day next July.

    Under the agreement, the applied OPEC + cuts will be only slightly higher than 6.5 million barrels per day from next May. And the cuts before that, about seven million barrels per day, in addition to another million barrels Saudi Arabia volunteered to reduce its production.

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