Oil prices soar as producers unveil shock output cut
Headline from Digital Journal
Oil prices soared Monday after top producers unveiled a shock output cut of more than a million barrels, while equities mostly rose after data showed US
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Oil prices soared Monday after top producers unveiled a shock output cut of more than a million barrels, while equities mostly rose after data showed US
Saudi Arabia and a few other countries announced a surprise cut in oil production, roiling crude markets. The move is expected to push gasoline prices higher.
Surprise oil production cuts announced by OPEC+ on Sunday sent oil prices soaring higher, with Brent crude surging to more than $83 a barrel on Monday.
The oil production cuts will total more than a million barrels per day — the biggest reduction since OPEC slashed two million barrels a day in October.
(CNN) -- Oil prices spiked Monday after OPEC+ producers unexpectedly announced that they would cut output. Brent crude, the global benchmark, jumped 5.31% to $84.13 a barrel, while WTI, the US benchmark, rose 5.48% to $79.83. Both were the sharpest price rises in almost a year.
Crude oil prices surged roughly 6% Monday morning following an unexpected Saudi-led decision by OPEC to slash oil production over the weekend, The Wall Street Journal reported. […]
Oil prices have soared nearly 6% after Saudi Arabia and other major oil producers said they will cut production by 1.15 million barrels per day from May until the end of the year.
Oil prices surged more than 6%, the biggest single-day gain in almost a year, after officials from OPEC+ countries unexpectedly agreed to cut supply by 1.66 million barrels per day.
BANGKOK (AP) — Oil prices soared more than 5% after Saudi Arabia and other major oil producers said they will cut production by 1.15 million barrels per
An unexpected OPEC production cut announcement has pushed up the price of oil. Besides reducing the amount of oil for sale, the move could also play into the hands of Russia and refill its war chest.
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Oil prices soar as producers unveil shock output cut | Since Then
