According to the trading data, after the end of the meeting of OPEC ministers, as well as OPEC member countries and its partners, on Friday by 23:00 Moscow time, oil prices slowed their growth after a jump of 5%. The price of Brent crude oil rose by 2.36% to $61.5 per barrel. WTI oil rose 1.88% to 52 dollars 45 cents a barrel. The parties to the OPEC + agreement decided to reduce production by 1.2 million barrels per day as a whole within 6 months from January. It was decided that OPEC countries will reduce production by 800 thousand barrels, and countries that are not part of the cartel - by 400 thousand barrels per day. The ministers agreed to meet in Vienna in April to discuss the progress of the deal. Iran, Venezuela and Libya will not take part in the deal.
Russian version