According to the trading data, after the end of the meeting of OPEC ministers, as well as OPEC member countries and its partners, on Friday by 23:00 Moscow time, oil prices slowed their growth after a jump of 5%. The price of Brent crude oil rose by 2.36% to $61.5 per barrel. WTI oil rose 1.88% to 52 dollars 45 cents a barrel. The parties to the OPEC + agreement decided to reduce production by 1.2 million barrels per day as a whole within 6 months from January. It was decided that OPEC countries will reduce production by 800 thousand barrels, and countries that are not part of the cartel - by 400 thousand barrels per day. The ministers agreed to meet in Vienna in April to discuss the progress of the deal. Iran, Venezuela and Libya will not take part in the deal.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...