Oil prices climbed on Monday as members of the Organization of Petroleum Exporting Countries (OPEC+) agreed to cut output by 100,000 barrels a day in October.
Oil prices climbed on Monday as members of the Organization of Petroleum Exporting Countries and Russia agreed to cut output by 100,000 barrels a day in October.
Brent crude BRN00 , the international standard, rose 3.6% to $96.31 a barrel on Monday afternoon trading in London. West Texas Intermediate CL.1 CL00 CLV22 , the U.S. benchmark, rose 2.6% to $89.58. In a statement, the cartel “noted the adverse impact of volatility and the decline in liquidity on the current oil market and the need to support the market’s stability and its efficient functioning.”
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