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The rise in oil prices and Brent records 71.82 dollars and 69.27 dollars for US crude

Today, oil prices recorded $71.82 per barrel for Brent crude futures contracts, and US West Texas Intermediate crude futures recorded $69.27 per barrel.


International media reports stated that oil prices rose for the third consecutive day, amid expectations of an increase in demand for fuel.


The participants in the 17th ministerial meeting of energy ministers in the Organization of Petroleum Exporting Countries (OPEC) and outside (OPEC +) decided, by default, via the Internet, to continue increasing global oil supply, according to the Middle East News Agency, where the meeting decided at the conclusion of its work to preserve the (OPEC +) plan. To gradually increase oil supplies until next July, which adds two million barrels per day to global supply, he also warned of the high rate of compliance of the 23 producers who are members of (OPEC +) with plans to reduce production by 114% last May, including Mexico.