OPEC+, with these events, postponed until December 5 the meeting where they should agree on further production cuts.
Oil prices rose after Israel and the Lebanese group Hezbollah traded accusations of ceasefire violations, and OPEC+ postponed a meeting where they were supposed to agree on further production cuts. This was reported by Reuters on Thursday, November 28.
Brent crude futures were up 30 cents, or 0.4%, at $73.10 a barrel, while US West Texas Intermediate crude was up 23 cents, or 0.3%.
The Israeli military said the ceasefire was violated after “suspects, some in vehicles, arrived in some areas in the southern zone.”
OPEC+, made up of oil-exporting countries and their allies including Russia, postponed a political meeting scheduled for Dec. 1 to Dec. 5.
At this meeting, there are plans to once again delay increasing oil production to support prices. The OPEC+ group, which supplies nearly half of global oil production, has been steadily reducing production to stabilize prices.
We remind you that the team of US President-elect Donald Trump is planning to introduce new projects in the field of liquefied natural gas and increasing oil production in the United States.
Source: korrespondent
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