Oil prices rose on Wednesday, erasing previous losses as the OPEC+ producer group prepares a small production increase of 100,000 barrels a day, a document seen by Reuters showed, dashing US hopes. of a significant increase in supply.
Brent crude futures were up more than 1% to $101.85 a barrel around 9:30 am ET.
U.S.-traded futures rose more, nearly 2%, to about $96 a barrel.
Ministers from members of the Organization of Petroleum Exporting Countries and allies, including Russia, known as OPEC+, are ready to agree to the small increase in production, equivalent to about 0.1% of global oil demand, a document showed. .
OPEC+ has agreed to raise its oil production targets in September by 100,000 barrels a day, an OPEC+ source said.
Source: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
