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Oil prices rise ahead of OPEC+ meeting
Jan. 4, 2022
Source: Trend

Oil prices rise ahead of OPEC+ meeting

Oil prices advanced on Monday as investors are awaiting a key meeting of the Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, Trend reports citing Xinhua. The West Texas Intermediate (WTI) for February delivery added 87 cents, or 1.2 percent, to settle at 76.08 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for March delivery increased 1.2 dollars, or 1.5 percent, to close at 78.98 dollars a barrel on the London ICE Futures Exchange. OPEC+ is set to meet on Tuesday via videoconference, where the oil alliance is expected to decide whether to continue increasing output in February.

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