Crude oil prices rose by over 2% on Wednesday after reports claimed that the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, decided to maintain its oil output baselines unchanged until 2027.
Additionally, it was reported that further negotiations on setting country-specific baselines are expected to take place in November.
West Texas Intermediate (WTI) for deliveries in July climbed by 2.63% at 11:45 am ET, going for $62.46 per barrel, while Brent for settlements in July gained 2.37% at the same time and sold for $65.47 per barrel.
