Reported 2 days ago
Crude oil prices rose after OPEC+ announced a smaller-than-expected increase of 137,000 bpd in production, compared to anticipated increases of 500,000 bpd. Supporting this rise was the halt in operations at Russia's Kirishi oil refinery following a drone attack, which further tightened supply. However, global oil inventories remain low, and the market still anticipates a projected surplus in the coming year, putting additional pressure on prices.
Source: YAHOO