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03 Dec 2024

Oil rises amid reports of extended production cuts and Lebanon ceasefire violations

Crude oil prices recorded a significant increase during Tuesday’s trading, supported by reports indicating that the "OPEC+" alliance intends to extend production cuts until the end of the first quarter of next year. This rise in the markets comes at a time when oil is experiencing optimism due to expectations supporting the stability of oil markets amid these policies.

U.S. crude oil futures rose by 0.67%, reaching $68.55 per barrel, while Brent crude futures increased by 0.63%, reaching $72.33 per barrel

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