© Reuters.
Investing.com – US West Texas Intermediate crude rose more than 7% as global trading opened after OPEC+ decided to cut production by 1.65 million barrels per day.
The White House commented that it sees “the move as illogical.” The White House said that this step is “not recommended” at the current stage. The global financial crisis.
Officials said the United States would only refill the reserves when prices fell below 70 a barrel.
Now WTI is standing above $80 a barrel due to the OPEC+ decision.
It is now recording $85 a barrel, an increase of 8%.
Goldman Sachs (NYSE:) analysts now see that oil will reach $100 a barrel in December of 2023. It was previously expected that the price would reach $90 a barrel.
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