Oil prices rose on Friday amid expectations that OPEC + will discuss production cuts at its meeting on the fifth of September, although concerns regarding Covid-19 restrictions in China and the weakness of the global economy cast a shadow over the market.
Brent crude futures rose 66 cents to settle at $93.02 a barrel, while US West Texas Intermediate crude futures rose 26 cents to settle at $86.87 a barrel.
Both benchmarks fell three percent to their lowest levels in two weeks in the previous session. Brent recorded a weekly decline of 7.9 percent, while West Texas Intermediate crude fell 6.7 percent.
(Archyde.com)
Oil rises at settlement before the OPEC + meeting next week
