Good news on oil came from OPEC+. The cartel members have agreed to voluntarily extend production cuts until 2024. Saudi Arabia will make additional voluntary cuts as part of the agreement.
The deal came after a last-minute row with African members of the alliance over how their cuts are measured, which delayed the meeting by several hours. The disagreement sparked a flurry of parallel meetings in which ministers haggled over details.
Technically, oil managed to hold above support at 72 area and is looking to test resistance at 85 area again.
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