Wednesday , February 8 2023

In a report to reduce production in 2019, oil prices rose to $ 73.


Oil prices rose to $ 73 a barrel, close to its lowest level since Wednesday. Russia and Saudi Arabia are discussing a cut next year.

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The two countries have begun bilateral discussions on the possibility of cuts in crude oil production in 2019, according to Russian sources, Tass said.
"In connection with potential cutback discussions, Petromatrix analyst Olivier Jacob said," This is an attempt to return speculation about simple intervention and price increases. "
Brent crude prices rose $ 1.18 to $ 73.31 per barrel at 10:17 GMT. Crude oil prices on Tuesday were at $ 71.18 a barrel, the lowest level since August 16.

The US crude oil market closed 28 cents higher at $ 62.49.

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