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    WTI oil surpasses $ 64, responds to Saudi Arabia, continues to cut production







    WTI crude oil surged past the $ 64 line this afternoon. The price continued to increase from last night. Saudi Arabia has voluntarily cut 1 million barrels per day of oil output for another month at a meeting of the Petroleum Exporting Countries (OPEC) and its allies. Or OPEC Plus,SLOT which was held yesterday
    At 12.53 GMT, West Texas Crude Oil (WTI) contract for delivery in April. It rose 60 cents, or 0.97 percent, to $ 64.45 / barrel.



    OPEC Plus meeting Resolved to maintain oil production ceiling at 7.2 million barrels per day until April. Saudi Arabia is still willing to cut 1 million barrels / day of its output for another month.




    However, the OPEC meeting allowed Russia to increase production by 130,000 barrels per day in April. And allowing Kazakhstan to increase its production capacity by 20,000 barrels / day to meet domestic demand.




    The OPEC Plus meeting has considered that The recovery in oil demand remains fragile. Although the price of oil has risen in the past




    At the OPEC Plus meeting yesterday Prince Abdulaziz bin Salman from Saudi Arabia It urged OPEC Plus members to exercise caution in decisions on oil production policy amid demand uncertainty. Due to the spread of COVID-19

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