Oil prices rise by over $1 on OPEC+ output hike delay

Nov 4 2024, 07:59

Harga minyak naik lebih dari $1 ditengah penundaan kenaikan produksi OPEC+

Oil prices rose by more than $1 in early trading on Monday after OPEC+ said on Sunday it would delay a planned December output hike by one month.

Brent futures rose by $1.14 per barrel, or 1.56%, to $74.24 a barrel. U.S. West Texas Intermediate (WTI) crude also rose by $1.14 a barrel, or 1.64%, to $70.63.

OPEC+, which includes the Organization of the Petroleum Exporting Countries plus Russia and other allies, was due to increase output by 180,000 barrels per day (bpd) in December.

Source : Reuters