OPEC + Producers agreed to keep oil production flat in April, reported Reuters on Thursday, citing two sources familiar with the matter.
“Russia and Kazakhstan will be allowed a modest increase in oil production in April,” the sources revealed, adding that OPEC + will do so again in April to decide production levels for May and beyond.
Market reaction
Crude oil prices continue to hold on to strong daily gains after this headline. At the time of writing, the barrel of West Texas Intermediate (WTI) it is trading at $ 64, up nearly 5% on the day.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
