Global Oil Prices Continue to Rise

Oil prices rose in early Asian trading on Monday after the OPEC+ alliance decided to suspend planned production increases for the first quarter of next year, easing growing concerns about an oversupply in the market.اضافة اعلان

Brent crude futures climbed 47 cents, or 0.73%, to $65.24 a barrel by 2336 GMT, after closing 7 cents higher on Friday.

U.S. West Texas Intermediate (WTI) crude gained 45 cents, or 0.74%, to $61.43 a barrel, following a 41-cent increase in the previous session.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, agreed on Sunday to raise output by 137,000 barrels per day for December, maintaining the same level of increase as in October and November.

Reuters