Oil Rises Amid OPEC + New Adoption oil production reduction agreements

Oil rallies Monday morning on news of approval OPEC + agreements to cut oil production. At 9:53 am Brent grew by 1.14% to $ 31.84, WTI - by 1.93% to $ 23.20. Early in the morning the growth reached 4 - 7%. The new agreement was approved by OPEC + last Sunday. Before that, it could not be accepted due to the disagreement of Mexico with quotas, but this issue was resolved thanks to the United States, who offered the country assistance in reducing production. Mexico will reduce it by 100 thousand barrels per day, and the United States will replenish the missing volume, for its part, having reduced it by 250 thousand b / d. Non-OPEC countries also promised to cut oil production + - in addition to the established quotas, they will reduce it by 4-5 million barrels per day, RIA Novosti reported, citing a source in OPEC. In addition, the G20 countries also agreed to reduce production by 3.7 million b / d, IRNA reports from the words Minister of Oil of Iran Bizhan Zangane.