Oil rose after reports of OPEC+ decision not to increase production

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According to trading data, the growth of world oil prices has accelerated markedly and has already exceeded 5% on reports that OPEC+ decided not to increase oil production in April.

The May futures price for Brent North Sea oil blend rose by 5.06% to $ 67.31, and April futures for WTI – by 5.08% to $ 64.34 per barrel. Earlier on Thursday, the price increase did not exceed 2%.

It accelerated significantly after reports of the OPEC + decision. In particular, the Bloomberg agency, citing sources, reported that the alliance decided not to increase production in April by 500 thousand barrels per day following the meeting. Simultaneously, according to the agency, Saudi Arabia will also maintain its additional reduction of 1 million barrels per day.

Author: Steve Cowan
Graduated From Princeton University. He has been at the Free Press since October 2014. Previously worked as a regional entertainment editor.
Function: Chief-Editor
E-mail: Great7news@gmail.com