Oil prices rise to $ 54 a barrel



Views Date 22/05/2017 - 18:36Economy News _ Baghdad:



Crude oil prices continued to rise Monday, and Brent crude rose to $ 54 a barrel for the first time since April 18.


According to Russian media, "By 5.49 (Moscow time) the price of crude futures for the Brent North Sea crude oil futures contract reached $ 54.07 per barrel."


The OPEC countries reached a meeting on November 30 last, an agreement to reduce the volume of oil production by (1.2) million barrels per day, starting in early 2017.


The non-OPEC countries agreed that the total reduction of their oil production would be 558,000 bpd, of which 300,000 barrels would be from Russia. "




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