Cost of Brent crude soars 6.7% as Iran gives verbal support for an output ceiling, even though it is unlikely to freeze its own production
Iran has given a significant boost to oil prices by unexpectedly praising a plan put forward by Saudi Arabia and Russia to freeze production.
The cost of Brent crude soared by 6.7% to $34.35 as Iran gave its verbal support for a production ceiling, even though it avoided making any immediate commitment to rein in its own growing output.
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