Oil Extends Gains After OPEC+ Rejects Bigger Production Boost

Oil Extends Gains After OPEC+ Rejects Bigger Production Boost
A 3D printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture on April 14, 2020. Dado Ruvic/Illustration/Reuters
Tom Ozimek
Updated:

Oil prices climbed on Tuesday, extending gains triggered during the previous session after the OPEC+ oil producing consortium decided not to ramp up crude production above a trickle despite international calls for a sharper boost.

Brent crude was up by 23 cents or 0.3 percent at $81.60 a barrel by 5:29 a.m. New York time, after rising 2.5 percent on Monday. U.S. West Texas Intermediate (WTI) oil rose 18 cents or 0.21 percent to $77.77, after gaining 2.3 percent the previous session.

Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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