The price of crude oil in the world market has increased significantly.
It is special that Russia is hinting that it will cut its oil production.
In response to Russia’s invasion of Ukraine, the Western countries of the G-7 group imposed a maximum price limit of $60 on Russian crude oil, and in response, Russia has indicated that it may have to cut its daily crude oil production by between 500,000 and 700,000 barrels.
Accordingly, the price of a barrel of Brent crude oil has increased by 2.94 dollars or 3.63% in a day, and the price of a barrel of that oil is recorded as 83.72 dollars.
The price of a barrel of American WTI oil has also increased by 2.07 dollars or 2.67%. The price of a barrel of oil is $79.56.
