Oil prices climbed early on Friday morning as expectations of an OPEC+ production cut grew. OPEC is already producing less than it was supposed to, but the group has been talking up market tightness and hinting at a production cut. On Thursday, Russia said that it stop selling oil to countries that implement a price cap on its crude, adding to the upward pressure in oil markets. Trader expectations that OPEC and its partners will approve production cuts at next week’s meeting added upward pressure to oil prices early on Friday morning, letting benchmarks recoup some of the losses incurred earlier in the week. Both Brent crude and WTI had gained close to 2 percent at the time of writing, with Brent crude trading at $94.10 per barrel and WTI at $88.19 per barrel. The idea of production cuts by OPEC+ producers was floated last month by Saudi Arabia’s […]