Brent crude oil prices, supported by decision of “OPEC +”, hit highest levels in over year

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ALGERIA- Oil prices jumped, Friday, March, 05th, 2021, to reach $ 68.12 a barrel, up 2.07 percent compared to Thursday’s closing session, hitting their highest levels in over a year.

As such, this upsurge is due to the decision of “OPEC +” producers against increasing production during the meeting held by OPEC and its ten allies last Thursday as well as a decrease in US fuel stocks.

Last Thursday, the Organization of Petroleum Exporting Countries and its allies “OPEC+” decided to maintain the current production level until the end of April, awaiting a more substantial recovery in demand.

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