Oil prices jump after OPEC+ announces surprise production cuts ...Middle East

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Oil prices jump after OPEC+ announces surprise production cuts
source : The Hill ( Middle East ) () 34
Oil prices surged after key oil producing countries announced a round of surprise production cuts Sunday totaling some 1.16 million barrels per day, a move that spurred criticism from the White House. Reuters reported that oil prices jumped about $5 per barrel as trading opened in Asia Monday morning, with Brent Futures crude prices jumping about 6.3 percent to $84.95 a barrel, its highest price in about a month. West Texas Intermediate crude also jumped as much as 8 percent in early trading, hitting about $80 a barrel, in its biggest singe-day jump in a year, according to Bloomberg. Saudi Arabia, along with Russia and other OPEC+ countries, announced the production cut, which

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