Monday, April 28, 2025
Oil rises after OPEC and allies agree to historic production cut- oil and gas 360

Oil rises after OPEC and allies agree to historic production cut

CNBC Oil prices moved higher on Monday after OPEC and its allies agreed to cut production by 9.7 million barrels per day. The deal, which was finalized on Sunday after marathon discussions that spanned four days, is the single largest output cut in history. U.S. West Texas Intermediate crude rose 1.9% to trade at $23.18 per barrel, while international benchmark Brent crude