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

Oil Prices Rise on Potential OPEC+ Supply Cuts

OPEC Oil Citi Petroleum
A pump jack is seen at sunrise near Bakersfield, California October 14, 2014. REUTERS/Lucy Nicholson

Oil prices rose on Thursday on mounting supply tightness concerns amid disruptions to Russian exports, the potential for major producers to cut output, and the partial shutdown of a US refinery.

Brent crude rose 59 cents, or 0.6%, to $101.81 a barrel by 0400 GMT, while US West Texas Intermediate crude was up 42 cents, or 0.4%, at $95.31 a barrel, Reuters reported.

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