Read about the surge in oil prices as Brent crude surpasses $80 per barrel. WTI crude also sees an increase. Stay informed on the latest developments in the oil market. Visit dzwatch.net for more insights.
The price of oil increased by up to one percent on Friday, as Brent crude futures rose by 86 cents, or 1.1 percent, reaching $80.25 per barrel.
Simultaneously, West Texas Intermediate (WTI) crude futures climbed by 81 cents, or 1.1 percent, reaching $74.70 per barrel.
Both benchmark crude oils experienced a more than four percent increase for the second consecutive week.
The Organization of the Petroleum Exporting Countries and its allies, known as “OPEC+,” hinted at the possibility of reducing oil production quotas in 2024.
Read about the surge in oil prices as Brent crude surpasses $80 per barrel. WTI crude also sees an increase. Stay informed on the latest developments in the oil market. Visit dzwatch.net for more insights.
