Brent crude futures remained near $93 today as traders evaluated OPEC’s controversial move to cut oil production by two million barrels a day from next month.
The largest reduction since the height of the pandemic was condemned by the Biden administration and led to forecasts for prices around $100 a barrel later this year.
In today’s corporate news, tobacco firm Imperial Brands said trading had been in line with expectations as it unveiled plans for a £1 billion shares buyback.
