OPEC's decision sharply increased oil price

Economic Department
Author

Baku. 22 June. REPORT.AZ/ Decision to increase production volume by 1 mln bbl at today's 174th meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria has lifted oil prices in the world market.

Report informs citing the Russian media, price of Brent crude oil at the London Stock Exchange (LSE) rose by 3% up to $ 75.2.

Other News

INPEX to redirect its share of oil produced in Kazakhstan, Azerbaijan to Japan 28 March, 2026 / 11:45
Azerbaijani oil price in global market reaches highest level amid recent conflict in Middle East 28 March, 2026 / 11:03
GECO and Zhero sign MoU within Black Sea Energy Corridor 27 March, 2026 / 16:13
Azerbaijani oil price in global market surpasses $121 27 March, 2026 / 09:41
EBRD: High oil prices benefit exporters, including Azerbaijan 26 March, 2026 / 19:48
Azerbaijan's wind power output jumps nearly 42‑fold 26 March, 2026 / 19:30
Trump team examines what oil as high as $200 a barrel would mean 26 March, 2026 / 12:05
Azeri Light crude drops to $113.7 per barrel 26 March, 2026 / 10:11
Petkim announces its 2025 foreign sales volumes 25 March, 2026 / 16:05
Russia adjusts energy supply chains amid Middle East conflict, energy minister says 25 March, 2026 / 15:48
Peskov: Türkiye could influence Kyiv to halt attacks on gas pipelines 25 March, 2026 / 14:25
Portugal increases oil purchases from Azerbaijan by more than 3% 25 March, 2026 / 14:23
President Ilham Aliyev attends opening of 'Absheron' Battery Energy Storage Center 25 March, 2026 / 14:09
Novak: Urgent measures needed to secure fuel supply in Russia 25 March, 2026 / 13:27
Fatih Birol: IEA ready to release additional oil reserves if needed 25 March, 2026 / 11:17
Azerbaijan boosts gas exports to Türkiye by nearly 30% in January 25 March, 2026 / 10:27
Brent oil drops to $99.4 25 March, 2026 / 10:16
Larry Fink: Oil prices at $150 could trigger global recession 25 March, 2026 / 10:08
Azeri Light crude dips slightly on global markets 25 March, 2026 / 09:46
Baku-Tbilisi-Ceyhan pipeline ships nearly 31M barrels in Jan-Feb 25 March, 2026 / 09:32