Prices rise even after OPEC agreement

Demostenes Floros, Geopolitical and economic analyst

In addition to the positive trend, the Vienna agreement has allowed Russia and Saudi Arabia to achieve two fundamental objectives: higher production and consequently higher income

Despite the agreement to raise oil output by 1,000,000 b/d achieved by the so called OPEC + group during their meeting in Vienna on June 22nd/23rd, barrel prices increased. In particular, WTI benchmark gained at around $7.5/b.