Russian Deputy Prime Minister Alexander Novak said today that oil prices have risen as markets do not rule out a reduction in oil supply due to the conflict in the Middle East. In televised remarks after the meeting of the top ministers of the OPEC+ countries, who decided to keep oil production policy unchanged, including a plan to start increasing production from December, Novak reiterated that in the formation of prices of oil, the crisis in the Middle East has already been taken into account. Crosses $75 barrier Oil prices fell below $70 a barrel in September for the first time since 2021, but have since risen above $75 on concerns that Iran’s attack on Israel could disrupt production from the region. “The conflict in the Middle East was already partly factored into the price,” Novak said. “The markets react, first of all, […]
Source: News Beast
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