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Oil Prices Surge as OPEC+ Extends Production Cuts Amid Global Demand Concerns

Summary

Crude oil prices rose sharply today after OPEC+ announced an extension of production cuts through the third quarter of 2026. Brent crude climbed 3.5% to $88.40 per barrel, marking

Crude oil prices rose sharply today after OPEC+ announced an extension of production cuts through the third quarter of 2026. Brent crude climbed 3.5% to $88.40 per barrel, marking the highest level since late 2025. The coalition cited ongoing global demand uncertainties and inventory imbalances as reasons for the move. Reuters reported that analysts expect tighter supply to keep prices elevated despite economic slowdown fears in major markets. The decision comes amid geopolitical tensions affecting supply chains and fluctuating energy consumption worldwide.
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Oil Prices Surge as OPEC+ Extends Production Cuts Amid Global Demand Concerns

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