Oil prices increased in early trade on Monday due to the decision of Saudi Arabia and Russia, the world’s largest oil exporters, to extend their voluntary additional production cuts until the end of the year.
International benchmark crude Brent traded at $85.62 per barrel at 10.41 a.m. local time (0741 GMT), a 0.86% rise from the closing price of $84.89 a barrel in the previous trading session on Friday.
The American benchmark West Texas Intermediate (WTI) traded at the same time at $81.17 per barrel, up 0.82% from Thursday’s close of $80.51 per barrel.
Serinus Energy plc (LON:SENX) is an international oil company with operations in Romania and Tunisia. The focus of the Company is to enhance shareholder value by growing oil and gas production through the efficient allocation of capital.