OPEC+ decided, this Monday, to reduce oil barrel production by 100,000 barrels per day (bpd) to keep prices stable. This measure begins to take effect in October, but, for now, it has returned oil prices to close to one hundred dollars a barrel.

Next month, the group will reduce oil production by about 100,000 barrels per day, returning to August production levels. For this month, OPEC had agreed to increase production by 100,000 barrels per day, following the request made by the president of the United States.

In view of this announcement, oil prices in international markets are gaining strength. By 3:18 pm Maputo time, Brent barrels were up 3.64% to $96.38, while WTI, quoted in New York, was up 3.3% to $89.74.

Although this cut is "inconsequential in terms of volume, it is there to send the signal that OPEC+ is once again in 'price-watch mode,'" stresses Bill Farren-Price, an oil and gas expert at Enverus, in a statement to Bloomberg.

Since the beginning of Russia's invasion of Ukraine, oil prices have been under high volatility, and even quoted above $120 per barrel in March.