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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Oil Prices Reach Highest Level in Three Months after ‘OPEC+’ Deal

Oil prices stabilized around the highest level in three months (Reuters)

Oil prices have stabilized near the highest level in three months, after OPEC+ key ministers agreed oil production cuts of 2 million barrels per day. This is the highest oil cut since 2020.

Saudi Energy Minister Abdulaziz bin Salman said OPEC+ had needed to be pro-active as central banks around the world moved to "belatedly" tackle soaring inflation with higher interest rates.

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