09:40 - 6.09.2023
September 6, Fineko/abc.az. Prices for oil of benchmark grades are increasing at Wednesday’s tarding after rising the day before to the highest since November 2022 amid information about Saudi Arabia's plans to extend voluntary production cuts until the end of 2023.
The price of November’s Brent crude futures at the London ICE Futures Exchange grew by $0.12 (0.13%) up to $90.16 per barrel by 09:33 am. Following the trading on September 5, Brent crude futures for November rose by $1.04 (1.17%) up to $90.04 per barrel.
The price of WTI oil futures for October on the electronic trading of the New York Mercantile Exchange (NYMEX) increased by $0.11 (0.13%) to $86.80 per barrel by 09:33 am. Following the trading on September 5, the price of the October WTI oil futures rose by $0.76 (0.88%) to $86.69 per barrel.
Saudi Arabian state agency reported on Tuesday, citing an official source in the Ministry of Energy, that the country will extend a voluntary cut in oil production of 1 million b/d until the end of 2023.
