MOSCOW, October 6. /TASS/. WTI oil price grew 0.37% during the trading session on the London’s ICE on Thursday to $50.2 a barrel, according to trading data.

WTI oil prices were above $50 per barrel last time on June 24, 2016.

The oil price hike is fueled by news the OPEC may cut oil production by 1% above limit agreed at the meeting in Algeria on September 28.