Baghdad Oil prices rose today, Monday, after the OPEC + countries kept their production targets unchanged before the European Union embargo and the imposition of a ceiling on Russian crude prices.

Meanwhile, in a positive sign for fuel demand, more Chinese cities eased COVID-19 restrictions over the weekend.

Brent crude futures rose 94 cents, or 1.12%, to $86.52 a barrel, while West Texas Intermediate crude futures rose 92 cents, or 1.15%, to $80.86 a barrel.

Yesterday, Sunday, the Organization of the Petroleum Exporting Countries (OPEC) and allies, including Russia, agreed to adhere to the October plan to reduce production by two million barrels per day from this November until the beginning of 2023.

Source: National Iraqi News Agency