BREAKING NEWS IRAQ Oil prices increased to $90 a barrel today, Tuesday September 5th

A barrel of Brent rose above $ 90 today, its highest level since November 18, 2022, after Russia and Saudi Arabia announced plans to support the oil market.

Saudi Arabia decided on Wednesday to extend the voluntary reduction in oil production by one million barrels per day for three months from October to December 2023.

Saudi Press Agency reports that the voluntary cut is part of OPEC+'s precautionary efforts to support oil market balance.

Alexander Novak, the Russian Deputy Prime Minister, announced that his country would extend the voluntary reduction in oil exports by 300,000 barrels per day until the end of the year, indicating that based on market conditions, the size of the voluntary reduction in Russian oil production will be determined monthly.