Oil prices gain with Brent headed for 5% weekly climb  on signs supply coming under control

Brent crude oil climbed above $65 a barrel to its highest this year as OPEC-led supply cuts and this week’s announcement of a higher than expected cut by Saudi Arabia encouraged investors.

The Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia started voluntary production cuts last month, aiming to tighten the market.

Check Also

Kremlin says OPEC+ decision to cut production is aimed at stabilizing market

The decision of the OPEC+ group of leading oil producers to reduce output by two …

Leave a Reply

Your email address will not be published.