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Oil rose about 3% after the OPEC+ alliance agreement

Category: Economy

Date: 2021-04-01T18:01:02+0000
Oil rose about 3% after the OPEC+ alliance agreement
Shafaq News/ Oil rose about 3% after the OPEC+ alliance agreed to increase oil production gradually over the next three months.

Reuters reported that U.S. Brent crude exceeded $ 64 a barrel, and U.S. West Texas Intermediate is above $ 60.

Earlier, OPEC+ has reached a preliminary deal to gradually ease production cuts from May, two OPEC+ sources said on Thursday.

The group was still debating exact figures, sources said.

Two sources had said earlier that OPEC+ was considering increasing output by 350,000 barrels per day in May, 350,000 bpd in June and 400,000 bpd in July.

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