Oil price increases due to supply reduction

27 September 2022 374
Oil price increases due to supply reduction

Officials of major producers said they could take actions to maintain price stability.


Iraq's Oil Minister Ihsan Abdul Jabbar said the Organization of the Petroleum Exporting Countries (OPEC) is monitoring the oil price, wanting to keep a balance in the markets.


The vice president of Religare Broking commodity research said: "We are forecasting a rebound in WTI crude to $80 per barrel, while Brent is expected to become to $87 per barrel".


Source Reuters.com

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