Expected oil production reductions spike oil prices on Monday

Source: WBP Online
© Reuters
Crude oil prices increased on Monday, as markets waited for production output decrease in Venezuela and Nigeria. WTI futures jumped 1.4% to $46.84 per barrel and Brent surged 1.3% to $48.46 per barrel. In Nigeria oil companies stopped exports after acts of sabotage and outputs from Venezuela fell due to lack of investment in the industry.
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