Oil prices rise after “OPEC +” ignores an American call

Industry

Baghdad Oil prices rose today, Friday, to compensate for some of its losses, after the “OPEC +” group rejected an American call to increase supplies and agreed to stick to plans for a gradual return to production that had stopped due to the Corona pandemic.

Brent crude rose 82 cents, or just over one percent, to $81.36 a barrel, after losing about two percent on Thursday.

While US crude increased by 97 cents, or 1.25 percent, to $ 79.78 a barrel, after losing 2.5 percent in the previous session.

And “OPEC +” agreed at a meeting yesterday, Thursday, to adhere to plans to increase oil production by 400,000 barrels per day from December 2021, ignoring US President Joe Biden’s call to increase supplies to curb the rise in prices.

 

Source: National Iraqi News Agency