Oil price increases in int’l market

Islamabad: The oil price has increased in international market.

According to the details, due to the increase of requirement in America and China the oil prices have increased. Brent Crude future has reached to the level of $83.45 per barrel 0.6 percent with the increase of 49 cents.

On the other hand, America west Texas has increased intermediate crude future to $79.53 with the raise of 60 cents.

The energy information administration’s officials stated that in upcoming weeks the market will be stricter. Prices can be supported amid increased production.

It should be noted that the organization of the petroleum exporting countries (OPEC Plus) extended its voluntary oil production cut of 2.2 million barrels per day into the second quarter to address global growth concerns and rising output outside the group.