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2020 October 15   09:19

Oil prices rise in response to reduction of reserves

Oil prices rise by 0.16-0.22%

As of October 15 (07:36 Moscow time), Brent Crude futures for December delivery climbed by 0.16% to $43.39 per barrel on the London-based ICE Futures Europe Exchange.

Light Sweet Crude (WTI) futures for November delivery on the New York Mercantile Exchange grew by 0.22% to $41.14 per barrel.

OPEC+ approved on April 12, 2020, new oil output cut by 9.7 million bpd in May-June, 7.7 million bpd in the second half and 5.8 million bpd by May 2022.

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