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Oil: Prices rise a few hours before the Opep+ ministerial summit

02/04/2021
Source : ORISHAS FINANCE
Categories: Sectors

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A few hours before the highly anticipated Opep+ ministerial summit and after the decision by the members of Opep+ to reduce their cuts in crude production, starting in May and gradually, oil prices have risen.

Oil prices rose on Thursday, the first day of April. In New York, American WTI oil for the month of May appreciated by 1.79% to 60.22 dollars.
Around 09:35 GMT, a barrel of Brent from the North Sea for delivery in June, the first day of use as a benchmark contract, was worth 63.76 dollars in London, up 1.63% from the previous day's close.
The ministerial summit of the alliance composed of members of the Organization of Petroleum Exporting Countries (OPEC) and its ten allies, known by the acronym Opep+, should endorse a probable extension of its current cuts.
During an introductory speech at the meeting, OPEC Secretary General Mohammed Barkindo explained that it should be borne in mind that the environment remains difficult,

complex and uncertain.
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