Oil breaks record for last 3 years before OPEC mega meeting

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OPEC should meet on Monday, 4, to discuss increased supply in the face of soaring prices; Brent hit $80.75 last Tuesday, 28

O Petroleum closed above $78 a barrel this Friday, after hitting a maximum of three years earlier this week, on expectations that OPEC ministers maintain a steady pace of increase in supply.

The Organization of Petroleum Exporting Countries and Allies, known as Opep +, meets at Monday. The group is slowly undoing record production cuts made last year, though sources say the organization is considering doing more to boost production.

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palheta smll Oil breaks record for last 3 years before OPEC mega meeting

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