Oil up by more than 1% after Russia-S. Arabia meeting - Breaking The News

Oil up by more than 1% after Russia-S. Arabia meeting

7 December

1 min read

EPA-EFE/NIELS CHRISTIAN VILMANN

The prices of oil futures rose on Thursday following Russian President Vladimir Putin's visit to Saudi Arabia, during which the two countries reaffirmed their commitment to maintaining global energy stability and urged the remaining members of the Organization of the Petroleum Exporting Countries and its partners (OPEC+) to follow their decision to introduce production cuts.

West Texas Intermediate (WTI) for settlements in January increased by 1.51% at 9:08 am ET to sell for $70.39 per barrel. At the same time, Brent for deliveries in February grew by 1.32% to go for $75.28 per barrel.

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