Oil prices stabilized today, Tuesday, December 5, amid tensions in the Middle East and weak economic data from US Brent crude futures.
Today, the price of Brent crude reached $78.02 per barrel, while the price of US West Texas Intermediate crude reached $73.09 per barrel.
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It is worth noting that the Saudi Minister of Energy, Prince Abdulaziz bin Salman, made it clear in his statements that the reduction in oil production in OPEC Plus may continue after the first quarter of next year 2024 if necessary.
An official source in the Ministry of Energy also revealed that the Kingdom of Saudi Arabia will extend its voluntary reduction of one million barrels per day, which began in July 2023, until the end of the first quarter of 2024, in coordination with some countries participating in the OPEC Plus agreement.
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2023-12-05 09:07:28
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