Record Jump In The Price Of Oil

Baghdad The price of Brent crude has jumped to a record level that it has not reached for more than 7 years.

A barrel of Brent crude was traded at $87.31 a barrel, up 0.84%.

And the OPEC + countries, since May of last year, have reduced production by 9.7 million barrels per day due to the decrease in oil demand caused by the Coronavirus pandemic.

The agreement was amended with the stabilization of the situation in the market.

Since August 2021, the parties to the agreement have increased production by 400,000 barrels per day each month, hoping to return to previous levels by the end of September 2022.

Source: National Iraqi News Agency