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[size=36]Oil rises near 3-year high[/size]
Economie| 08:44 - 02/10/2021
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Follow-up - Mawazine News:
Oil closed above $78 a barrel, close to the three-year high reached earlier last week, supported by expectations that OPEC ministers will maintain a moderate pace to raise production.
Brent crude rose 97 cents, or 1.2 percent, to settle at $79.28 a barrel.
US West Texas Intermediate crude rose 85 cents, to a settlement price of $75.88 a barrel, with the sixth week of gains recorded.
"If OPEC + adheres to the agreed upon in advance and implements only the planned increase of 400,000 barrels per day next month, the energy markets will soon see oil prices at $ 90," said Edward Moya, chief market analyst at Oanda, adding that any increase less than 600 thousand barrels will raise prices. Ended 29/A 4
Oil closed above $78 a barrel, close to the three-year high reached earlier last week, supported by expectations that OPEC ministers will maintain a moderate pace to raise production.
Brent crude rose 97 cents, or 1.2 percent, to settle at $79.28 a barrel.
US West Texas Intermediate crude rose 85 cents, to a settlement price of $75.88 a barrel, with the sixth week of gains recorded.
"If OPEC + adheres to the agreed upon in advance and implements only the planned increase of 400,000 barrels per day next month, the energy markets will soon see oil prices at $ 90," said Edward Moya, chief market analyst at Oanda, adding that any increase less than 600 thousand barrels will raise prices. Ended 29/A 4
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