The price of oil jumped noticeably on Monday after OPEC+ announced last weekend its intention to further reduce oil production volumes. During the trading session the growth of Brent and WTI quotations exceeded 6%. As reported by Saudi Arabia and other countries-participants of the alliance, the reduction is planned to start in May and continue until the end of this year, it will amount to more than 1.1 million bpd.

According to Daniel Hines, senior strategist for commodities banking group Australia & New Zealand, the words which leads agency "Prime" with reference to Bloomberg, in this background, oil may once again return to the level of $100 per barrel. He sees the alliance's move as a desire to maintain prices, which, in his opinion, was given a clear sign to the market.

The U.S. reacted negatively to this decision - the White House said they did not find it reasonable. In Germany, the decision surprised German politicians, according to Das Erste.