The decision taken by the major oil producing countries "OPEC plus" to continue reducing oil production to support world prices, which coincided with the decision of the group of seven countries to impose a new ceiling on the price of Russian oil, comes to the rise in oil prices amid fears of disruption of global supplies in the coming months

The price of Brent crude rose by about 2 percent on Monday, bringing the price per barrel to 87.25 dollars.

However, that price is still well below the high price levels experienced by the markets after the war between Russia and Ukraine.

The high price of oil raises gasoline prices and the cost of living in general.

Despite this, Russia, which is the world's second largest crude oil producer, said it would not accept the imposition of a price ceiling, and threatened to stop exporting oil to countries that would adopt such measures.

"Russia has been very clear that it will not sell crude oil to anyone who applies a price cap," said George Leon, first vice president of energy consultancy Rystad Energy.

"So it is likely that what will happen is that we will see some unrest in the coming months, and therefore oil prices are likely to start rising again in the coming weeks,"he said.

Meanwhile, the group of oil-producing countries known as "OPEC plus" said on Sunday that it will continue its policy of reducing production to support world prices.

The move to impose a ceiling on the price of Russian crude at 60 dollars per barrel tops the measures of the EU ban on imports of Russian crude oil by sea, as well as similar pledges by the United States, Canada, Japan and the United Kingdom.

Although Russia will inevitably be affected by the measures, the blow will be partially mitigated by Moscow's move towards selling its oil to other markets such as India and China, which are currently the largest single buyers of Russian crude oil.

Kremlin spokesman Dmitry Peskov said on Monday that Russia would respond to the latest measures, adding that it would not stop its military campaign in Ukraine.

"Russia and the Russian economy have the necessary capacity to fully meet the needs and requirements of the special military operation,"he added during a press conference.