OPEC+ agrees to increase March oil production at 400,000 BPD

02/02/2022 | 13:12 GMT

Crude oil trades at a new 7 year high

OPEC+ has agreed to increase oil output by 400,000 BPD from March. That is as expected.

The price of crude oil is trading at $89.40. That's up $1.20 on the day. The high price reached $89.70 on the spike higher.

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