Singapore, October 04 (QNA) – Oil prices continued to rise in Asian trading, amid expectations of a significant reduction in crude production.
Brent crude futures raised 43 cents, or 0.5% to $89.29 per barrel after earning more than 4% in the previous session.
US crude futures raised 22 cents, or 0.3 percent, to $83.85 per barrel. However, it increased more than 5% in the previous session, recording the largest daily gain since last May.
Yesterday, oil prices recorded a rise of more than 3% in Asian trading, at a time when the (OPEC+) group is considering reducing production by more than one million barrels per day in the largest reduction since the COVID-19 pandemic in an attempt to support the market. (QNA)