Baghdad Oil prices rose, today, Thursday, to their highest levels in three weeks, with the agreement / OPEC + / on the largest production cuts since the outbreak of the Covid 2020 pandemic, and also against the background of US government data that showed a decline in crude and fuel stocks last week.
Brent crude rose 13 cents, or 0.15 %, to settle at $93.53 a barrel.
Brent crude hit a session high of $93.96 a barrel, the highest since September 15.
US West Texas Intermediate crude rose 12 cents, 0.14 %, and reached 88.42 dollars a barrel during the session, the highest level since September 15.
The cut of 2 million barrels per day from OPEC + could lead to a recovery in oil prices, which fell to about $ 90 from $120 three months ago due to fears of a global economic recession, higher interest rates in the United States, and a stronger dollar.
Source: National Iraqi News Agency