CRUDE OIL PRICES RISEN TO $80 PER BARREL AS OPEC+ MAINTAINS ITS FEBRUARY OUTPUT INCREASE

  • 04/01/2022

Brent crude rose to $80 per barrel on Tuesday, the highest since November, as OPEC+ agreed to remain with its planned increase for February based on evidence that the Omicron coronavirus type will have only a minor impact on demand.

Brent futures finished up $1.02, or 1.3 percent, at $80 a barrel, nearly back to where they were on Nov. 26 when rumours of the new version first surfaced, prompting a more than 10% drop in prices on that day.

The price of West Texas Intermediate (WTI) crude in the United States increased by 91 cents, or 1.2 percent, to $76.99.

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