Crude oil prices were stable at the level of 48 $ a barrel, supported by the effects of the Israeli aggression on Gaza, and the conflict between Russia and Ukraine on natural gas.

As oil prices rose nearly 50% since the low level of 32.40 dollars per barrel in the 19th last month, price support are also signs that the Organization of Petroleum Exporting Countries / OPEC / cuts by the Organization to stop the decline in prices.
Analysts say the rise in oil prices in recent times will not last long in the face of reduced global demand for energy due to economic recession
On the other hand, Iran has said that the Organization of Petroleum Exporting Countries / OPEC / will hold an extraordinary meeting in Kuwait next month to discuss the situation in oil market.
Mohammad Ali Khatibi Iran’s OPEC representative said that it was not a date for the meeting has not yet been invitations to Member States.
OPEC decided last month to reduce production of 2.2 million barrels of oil a day in an attempt to stop the decline in prices, but oil prices continued to decline.