scorecardresearchOil Rallies With OPEC+ Decision, G-7 Cap Plan Dominating Trading

Oil Rallies With OPEC+ Decision, G-7 Cap Plan Dominating Trading

Updated: 05 Sep 2022, 08:32 AM IST
TL;DR.
Oil surged on the possibility that OPEC+ may decide to trim production, and as Europe’s energy crisis worsened after the Group-of-Seven nations endorsed a plan to try to cap the price of Russian crude.
FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File Photo/File Photo

FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File Photo/File Photo