Oil prices rose slightly today, Monday, after new diplomatic efforts to resolve the Ukraine crisis brought relief to the market over supply concerns, as it kept oil prices near $100 a barrel, and Brent crude futures rose 25 cents, or 0.3%, to $93.79 a barrel at The time is 10:00 GMT.
US West Texas Intermediate crude futures rose 35 cents, or 0.4%, to $91.42 a barrel.
French President Emmanuel Macron said on Monday that US President Joe Biden and Russian President Vladimir Putin had agreed in principle to hold a summit on Ukraine, but the Kremlin said there were no immediate plans for a meeting, and US markets are closed today for a public holiday.
At the same time, a source from “OPEC Plus” (+Opec) told Reuters - that the commitment of the group of producers to oil production cuts rose to 129% last January, noting that some members are still finding it difficult to increase their production, and comes This compares with 122% in December and 117% in last November.
The source said that the commitment of members of the Organization of Petroleum Exporting Countries (OPEC) amounted to 133 percent last January, while non-OPEC producers achieved a commitment of 123 percent.