Tuesday, January 14, 2025
OPEC+ production cut extension supports oil prices- oil and gas 360

OPEC+ production cut extension supports oil prices

Oil Price OPEC+ on Sunday agreed to extend its production cuts for another quarter, but the reaction from oil markets was relatively muted as the agreement had already been priced in. Early on Monday morning, Brent crude was trading at $83.72, while West Texas Intermediate was sitting at $80 per barrel. The extension of the 2.2-million-bpd production cuts from OPEC+ was anything but a