Brent crude was trading at $84.22 a barrel by early Monday, while U.S. West Texas Intermediate crude was at $79.84
Oil prices surged on Monday, posting the biggest daily rise in nearly a year, after a surprise announcement by OPEC+ to cut more production jolted markets.
The Organization of the Petroleum Exporting Countries and their allies including Russia shook markets by announcing further production cuts of about 1.16 million barrels per day on Sunday. As a result, Goldman Sachs lowered its end-2023 production forecast for OPEC+ by 1.1 million bpd and raised its Brent price forecasts to $95 and $100 a barrel for 2023 and 2024, respectively, it said in a note.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
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