As of the close of the day, the price of light crude oil futures for delivery in October on the New York Mercantile Exchange rose by US$0.81 to close at US$40.97 per barrel, an increase of 2.02%; the price of London Brent crude oil futures for delivery in November rose by US$1.08. It closed at 43.3 US dollars per barrel, an increase of 2.56%.
The Organization of Petroleum Exporting Countries (OPEC) and the non-OPEC ministerial-level joint supervisory committee held a regular meeting on the 17th, announcing that it would recommend to the OPEC and non-OPEC ministerial-level meeting the production cut compensation mechanism that will expire in September The extension to the end of December this year will allow a number of oil-producing countries that have exceeded their quotas to fully fulfill their production reduction obligations.
