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BREAKING
SDF announces the killing of three of its members as a result of ISIS cells detonating a landmine targeting a vehicle of a security patrol on the Hasaka-Raqqa road
The Popular Resistance Committees: We call on all international institutions to take urgent action and uphold their responsibilities by restoring and immediately enforcing effective mechanisms for the distribution of humanitarian aid.
The Popular Resistance Committees: The latest Zio-American crime against Gaza’s starving civilians constitutes a war crime, for which the US administration bears full and direct responsibility.
Gaza Media Office: Bloody spectacle shows that these zones have become collective death traps rather than aid distribution zones.
Gaza Media Office: Dozens of citizens are still surrounded under constant fire in the vicinity of the "aid station."
Gaza Media Office: As soon as citizens arrived, occupation and Americans opened direct fire on them.
Gaza Media Office: Occupation, in complicity with the US company, called on citizens to move toward Wadi Gaza Bridge, claiming that aid would be distributed.
Gaza Government Media Office: Occupation set a bloody trap at bridge of Wadi Gaza, luring thousands of starved civilians, and opened fire on them.
Al Mayadeen's correspondent in South Lebanon: Israeli drone drops sonic grenade in town of Ramiyah.
Al Mayadeen's correspondent in South Lebanon: Israeli drone strike targets vehicle in town of Beit Lif.

Oil Prices Hit Their Highest in 3 Years

  • By Al Mayadeen Net
  • Source: Agencies
  • 5 Oct 2021 18:36
2 Min Read

The rise in oil prices comes after the decision of OPEC+ to maintain a gradual increase in oil production.

  • x
  • Oil prices are at their highest level in at least 3 years
    Oil prices are at their highest level in at least 3 years

On Tuesday, crude oil prices rose and reached their highest levels in at least 3 years, after the OPEC+ group of producers chose to stick to its planned output rise rather than increase the production even further.

Brent crude rose 23 cents, or 0.3%, reaching $81.49 a barrel, by 03:41 GMT, after rising 2.5% on Monday. West Texas Intermediate (WTI) crude also rose 12 cents, or 0.2%, reaching $77.74, after rising 2.3% in the previous session.

Related News

OPEC+ eyes full return of 2.2 million barrels amid compliance rift

OPEC+ to boost oil output again amid market weakness, internal rift

On Monday, the Organization of the Petroleum Exporting Countries, OPEC, and its allies including Russia, within the framework of the OPEC+ group, confirmed that they will maintain their agreement to increase oil production but only gradually.

Calls by India and the US to raise production ignored

Calls by the US and India to raise production as the global economy recovers from COVID-19 were ignored.

Capital Economics expected a gradual return of demand growth to normal and that a recovery in supply would begin to affect oil prices as of the fourth quarter of the current year.

The research consultancy added in a note that during the current year, the growth of demand has surpassed supply, contributing to prices reaching multi-year highs. Thus, it is expected that this dynamism will be reversed as OPEC+ increases production.

  • OPEC
  • Oil prices

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