London-Sana
Oil prices jumped about four dollars today, while the “OPEC Plus” group is considering reducing production by more than one million barrels per day, which will be the largest reduction since the Corona pandemic, in an attempt to support the market.
Reuters reported that Brent crude futures rose $3.46, or 4.1 percent, to $88.60 a barrel, and US West Texas Intermediate crude also rose 4.3 percent to $3.39 to $82.88 a barrel.
According to sources in OPEC Plus, the Organization of Petroleum Exporting Countries “OPEC” and its allies known as “OPEC Plus Cut” are studying production by more than one million barrels per day, before the meeting on Wednesday, in order to support prices.
This will be the second consecutive monthly cut by OPEC Plus, after it cut production by 100,000 barrels per day last month.
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