The price for Brent crude futures for August 2020 supply at London’s ICE exchange has risen by 1.7% to reach $43.02 be the end of the session, the trading data at 01:58 Moscow time shows.
The last time the Brent crude traded above $43 per barrel was on March 6, 2020.
WTI crude also improved positions, trading at $40.22, a 1.7% increase.
OPEC+ ministers on June 6 had a video conference to extend the oil cuts for another month until the end of July. In spite of the unprecedented restrictions, Russia and Saudi Arabia insisted that all members of the club strictly adhere to the deal conditions.