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Oil prices rise to highest since Oct 2018, Brent reaches $76.18 per barrel

Oil prices recorded $76.18 a barrel for the Brent crude futures contract at the settlement on Friday, and the US West Texas Intermediate crude futures recorded $74.05 a barrel.

International media reports stated that oil prices in global markets rose to their highest levels since October 2018, as prices were supported by expectations that demand growth will outpace supplies.

Oil prices also recorded their fifth consecutive weekly gain of more than 3%.

The OPEC Plus alliance will hold its meeting at the beginning of next July, to discuss further easing of production cuts, starting in August 2021.

 

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About AISU

Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

AISU is a non-governmental organization of a private nature, not of a political or commercial nature.

AISU works in the field of preparing studies, organizing courses and holding periodic conferences for the prosperity of the Arab iron and steel industry. The union includes a wide range of companies with multiple activities related to the iron and steel industry.

Information About Union

92 Members

28 Board of Directors

17 Country

300.000 Employees

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