European indexes enjoyed a much-needed blast upwards -- led by a record close in Frankfurt -- after EU leaders pledged to double vaccine deliveries to 300 million doses between April and June, having been too slow out of the blocks in its immunisation programme.
However, Bjarne Schieldrop, chief commodities analyst at SEB research group, said: "There is within the alliance a major difference of opinion on the capacity of the oil market to absorb new volumes."
Investors largely shrugged off comments by US President Donald Trump that a nearly $900 billion stimulus bill, agreed upon after months of wrangling in Congress, was "a disgrace" that he might not sign.
China will maintain policy support for its economic recovery, avoiding a sudden shift in policy, to help keep economic growth within a reasonable range in 2021, the Xinhua news agency said on Friday.