Oil prices rise as OPEC supply drops and the United States sanctions Venezuela and Iran

Oil prices rise as OPEC supply and US sanctions dwindle

Oil prices rose on Tuesday February 12 as a result of OPEC-driven supply cuts and US sanctions against Venezuela and Iran An increase in US supplies and a possible economic slowdown this year could slow the growth of oil markets.

The price of Brent rose 30 cents, or 0.5%, to $ 61.81 a barrel, and US crude rose 21 cents, or 0.4%, to hit the price of 52.62 on barrel.

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