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Oil prices hit their highest point since 2014 on news that OPEC+ has scrapped plans for a larger production boost, according to multiple reports.
Following a meeting that took place on Sunday 10/3, the cartel decided to maintain its earlier decision, opting for a gradual increase in production levels.
As of midday 10/4, WTI is at $77.82/barrel, a gain of 4.5% vs. Friday's $74.45.
Brent comes in at $81.47/barrel, up 3.7% from Friday's $78.53.
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