Oil Rises As Market Awaits OPEC+ Production Decision ...Middle East

OILPRICE - Economy
Oil Rises As Market Awaits OPEC+ Production Decision
source : OILPRICE ( Middle East ) () 9
In highly volatile trade, oil prices rose early on Monday as ministers of the OPEC+ alliance began their virtual meeting to decide production levels for February. As of 9:16 a.m. ET on Monday, WTI Crude was up 0.68 percent at $48.90 and Brent Crude was trading up 1.16 percent at $52.43, suggesting that the market believes that the OPEC+ group will not decide to raise production by another 500,000 barrels per day (bpd) from February as Russia and the United Arab Emirates (UAE) are reportedly proposing. Most of the members of OPEC+ are reportedly…

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