Business daily – Oil prices jump after OPEC forecasts increasing demand

By Nick J Adam On Jun 2, 2021

Issued on: 02/06/2021 – 10:00

The price of oil hit its highest level in more than two years after the oil-producing cartel OPEC and its allies agreed to continue increasing supply in the coming months. The organisation is expecting demand for oil to rise as economies lift Covid-19 restrictions. Also today, European Union countries and MEPs agree a deal to impose new tax reporting rules on big multinational companies. The firms will need to declare their profits earned and tax paid in each EU country.

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