Oil Prices Rise Ahead Of OPEC Meeting To Discuss Reducing Supply

Baghdad, Oil prices rose ahead of an OPEC meeting in which Saudi Arabia is expected to urge the organization and its allies, including Russia, to agree to deepen production cuts to support the market.

Prices also supported / according to Reuters / an increase below the expected crude oil stocks in the United States, which eased fears of oversupply in the largest oil consumer in the world.

Brent crude was up 46 cents, or 0.9%, to $ 51.58 a barrel, while US West Texas Intermediate rose 37 cents, or 0.8%, to record $ 47.15 a barrel.

OPEC + is scheduled to hold a meeting today and tomorrow at its headquarters in the Austrian capital, Vienna.

Source: National Iraqi News Agency