OPEC deal pushes Brent above $75 per barrel

OPEC deal pushes Brent above $75 per barrel

The benchmark Brent crude oil jumped 3% to $75.2 per barrel, following three days of declines, after OPEC agreed today to raise production by around 1 million barrels per day from July for the group and its allies.

Nigeria’s oil minister Emmanuel Ibe Kachikwu said the agreement would see OPEC members raise output by at least 700,000 b/d, with non-OPEC countries. "It will be 1m collectively," Financial Times cited the Saudi minister as saying.

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