Oil rises in price on the prospects of OPEC+ production cuts

2022-10-04T08:02:17+03:00

2022-10-04T08:02:17+03:00

2022-10-04T08:02:17+03:00

2022

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Oil rises in price on the prospects of OPEC+ production cuts

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World oil prices on Tuesday morning are rising on a possible decrease in OPEC + production, according to trading data and analyst comments. As of 7.43 Moscow time, the price of December… PRIME, 04.10.2022

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Oil rises in price on the prospects of OPEC+ production cuts

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MOSCOW, 4 Oct — PRIME. World oil prices on Tuesday morning are rising on a possible decrease in OPEC + production, according to trading data and analyst comments.

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As of 7:43 Moscow time, the price of December futures for Brent crude oil is growing by 0.45%, to $89.26 per barrel, November futures for WTI – by 0.25%, to $83.85.

On Wednesday, October 5, the OPEC+ meeting will take place in Vienna. At the meeting, the alliance will consider the option of reducing the production of “black gold” by more than one million barrels per day, Bloomberg reported on Sunday. This message supports the growth of oil prices.

“We see a significant possibility of a cut to one million barrels,” Australia & New Zealand Banking Group Ltd, a senior commodities strategist, said in a statement. Daniel Hynes.

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