Oil prices have surged to their highest level in two years after OPEC's surprise decision to keep output levels unchanged, signaling higher prices ahead.
Published 5 years ago on Mar 7th 2021, 6:22 am
By Web Desk
Brent futures climbed 4.2% in New York after OPEC decided in a virtual meeting to keep output levels as is in April, with Saudi Arabia stating that it will maintain its 1 million barrel a day production cut.
The decision comes across as a victory for the desert kingdom which has advocated for cutting production to support prices. Throwing aside fears of US spurring up its shake digging for oil, Saudi Energy Minister, Prince Abdul Aziz, said "US mantra of drill baby drill, is gone forever."
The group's next meeting is scheduled for April to discuss May output.
Pakistan, China sign agreements, MoUs, cooperation documents
- 14 گھنٹے قبل
Chinese PM, Field Marshal discuss matters of mutual interest
- 9 گھنٹے قبل
I have a new go-to browser
- 3 گھنٹے قبل
Annual Hajj rituals begin in Makkah with arrival of pilgrims in Mina
- 14 گھنٹے قبل
Trump is waging a silent war on legal immigration
- 3 گھنٹے قبل
Vibe coding is coming to your phone
- 3 گھنٹے قبل
China launches Shenzhou-23 crew mission
- 14 گھنٹے قبل
PAF wins 55th National Men's Volleyball Championship 2026
- 14 گھنٹے قبل
Hanging out in my favorite virtual coffee shop in Tokyo
- 3 گھنٹے قبل
How to make the most important choice of your life
- 37 منٹ قبل
It’s make or break time for AI labeling systems
- 3 گھنٹے قبل
Why Steve Kerr Stayed With the Warriors
- 2 گھنٹے قبل
You May Like
