![Crude oil increases by $5/bbl as a surprise Market shock from OPEC+ output cutbacks](https://market-tracker.in/wp-content/uploads/2023/04/105625016-1544691366936gettyimages-930981446.jpeg)
Crude oil increases by $5/bbl as a surprise Market shock from OPEC+ output cutbacks
The unexpected declaration by OPEC+ to further reduce output in an effort to sustain market stability caused an increase in oil prices of approximately $5 per barrel on Monday. In the opening, Brent crude reached its highest price in almost a month, trading at $84.95 a barrel, up $5.06 or 6.3%. With a price of…