Oil rises in price: OPEC + cuts produce results

The world oil market is on the rise thanks to reports that OPEC + countries are increasingly complying with the agreement to reduce production. This opinion was expressed by Rystad Energy analyst Paola Rodriguez Masiu.

Oil rises in price: OPEC + cuts produce results

“Enthusiasm remains on the market because oil supplies are still under control,” Masiu said.

In addition, Iraq and Kazakhstan at the OPEC + meeting promised to comply with oil restrictions.

“The key conclusion is that compliance with OPEC + will improve in the coming months,” says PVM strategist Stephen Brennock.

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