In the New York crude oil market on the 3rd, in response to reports from the Western media that a significant production cut was being considered at a meeting held on the 5th by OPEC Plus, which is made up of major oil-producing countries, the international crude oil Futures prices temporarily rose to the $84 per barrel level.
In the New York crude oil market on the 3rd, the futures price of WTI, which is a benchmark for international crude oil trading, temporarily rose to the $84 per barrel level.
Western media such as Reuters and the Wall Street Journal reported that OPEC Plus, which joins Russia to the Organization of the Petroleum Exporting Countries (OPEC), is considering a significant production cut to support crude oil prices at a meeting on the 5th. What I told you is in the background.
WTI futures prices temporarily exceeded $130 per barrel in early March following Russia's military invasion of Ukraine, accelerating global inflation.
After that, the price turned downward due to concerns about a slowdown in the global economy, dropping below $80 per barrel for the first time in about eight months at the end of last month.
OPEC+ also decided last month to cut crude oil production this month.
A market insider said, "Because the production cut will lead to a rise in crude oil prices, there is growing interest in OPEC+'s response."