Oil price surges after OPEC meeting and unrest in Middle East

New announcements from OPEC and growing tensions between the US and Iran following last week's alleged sabotage of several tankers have made the oil price surge.

Photo: Ritzau Scanpix/AP/Chuck Bennett

Oil prices surge on Monday to the highest level in several weeks, following the Organization of the Petroleum Exporting Countries, OPEC, indicating a fixation on its production costs, which have contributed to increasing price levels of 30 percent this year.

At the same time, unrest continues in the Middle East, writes Reuters.

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