Why Camber Energy Stock Is Rising

Camber Energy Inc CEI shares are trading higher by 9.58% to $0.23 Wednesday afternoon amid an increase in the price of oil following reports suggesting OPEC+ has agreed to a 2 million barrel per day output cut.

Why It Matters

This reduction could reverse weeks of declining oil and gas prices, according to Reuters, despite the U.S.'s lobbying to retain current quotas.

The U.S. had promised to buy 200 million barrels from OPEC members to restock its strategic petroleum reserve...Read More

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Camber Energy is active in the oil and gas market. The company is engaged in the acquisition and development of crude oil and natural gas from various known productive geological formations.

According to data from Benzinga Pro, Camber Energy has a 52-week high of $3.65 and $0.18.