Oil prices rose today, Saturday, October 8, 2022, as Brent crude recorded $97.92 per barrel for futures contracts, and the US Texas Intermediate reached $92.64 per barrel.
Today, oil prices recorded their highest level in 5 weeks, as prices jumped about 4% at the end of the week’s trading, due to the OPEC Plus alliance, which includes 13 countries in addition to 11 of its allies, to cut production by 2 million barrels per day during the past two days.
The price of a barrel of Saudi oil 2022 today:
Today, Saturday, the price of a barrel of Saudi oil 2022 for futures contracts reached 97.92 dollars a barrel
It is noteworthy that the OPEC Plus decision has angered the United States, accusing the decision taken by the coalition of supporting Russia in its war that it has been waging since last February against Ukraine, which caused a case of a rise in prices worldwide.