Oil rises 5% after Qatar withdraws from OPEC


 Arab and international

Economy News _ Baghdad

Oil prices rose in early trade on Monday by 5 percent after Qatar withdrew from OPEC.

Brent crude for the day rose $ 2.89, or 4.9 percent, to $ 62.35 a barrel from the last closing price. Texas crude also rose $ 2.48, or 4.9 percent, to $ 53.41 a barrel.

Brent crude was down 80 cents and 1.3 percent at the end of last Friday’s trading session, reaching $ 58.71 a barrel, while US crude fell 52 cents, or 1 percent, to $ 50.93 per barrel. .



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