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OPEC + decision revives oil prices
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Economy News - Baghdad
Oil prices jumped 2%, Monday, after OPEC + countries kept their production targets ahead of the European Union's ban on Russian crude and capping it, which takes effect from today.
Meanwhile, in a positive sign for fuel demand, more Chinese cities eased anti-COVID-19 restrictions over the weekend.
Brent crude futures rose $1.84, or 2.2%, to $41.87 a barrel at 01:42 GMT.
US West Texas Intermediate crude futures rose $1.64, or 2%, to $62.81 a barrel.
The Organization of the Petroleum Exporting Countries (OPEC) and allies, including Russia, who are called the “OPEC +” group, agreed yesterday, Sunday, to adhere to the agreement it reached in October, represented in reducing production by two million barrels per day, starting from last November until the end of the year. 2023.
Views 135
Added 12/05/2022 - 9:20 AM
Updated 12/05/2022 - 2:13 PM
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Economy News - Baghdad
Oil prices jumped 2%, Monday, after OPEC + countries kept their production targets ahead of the European Union's ban on Russian crude and capping it, which takes effect from today.
Meanwhile, in a positive sign for fuel demand, more Chinese cities eased anti-COVID-19 restrictions over the weekend.
Brent crude futures rose $1.84, or 2.2%, to $41.87 a barrel at 01:42 GMT.
US West Texas Intermediate crude futures rose $1.64, or 2%, to $62.81 a barrel.
The Organization of the Petroleum Exporting Countries (OPEC) and allies, including Russia, who are called the “OPEC +” group, agreed yesterday, Sunday, to adhere to the agreement it reached in October, represented in reducing production by two million barrels per day, starting from last November until the end of the year. 2023.
Views 135
Added 12/05/2022 - 9:20 AM
Updated 12/05/2022 - 2:13 PM
[You must be registered and logged in to see this link.]
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