Oil prices rise more than 1% after Russia agrees to extend OPEC+ deal

Oil prices rise more than 1% after Russia agrees to extend OPEC+ dealOil prices rose more than $1 a barrel on Monday after Russia agreed with Saudi Arabia to extend supply cuts for another six to nine months ahead of an OPEC meeting this week. Front-month Brent crude futures for September touched an intraday high of $66.14 a barrel and were up 89 cents, or 1.4%, at $65.63 a barrel by 1117 GMT. The Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers, an alliance known as OPEC+, meet on July 1-2 to discuss supply cuts, which have been curbing oil output by 1.2 million barrels per day (bpd).




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