oil output policy

Oil on track for 9-week high on rising demand outlooks
Markets

Oil on track for 9-week high on rising demand outlooks

  • Brent futures rose $1.09, or 1.6%, to $69.64 a barrel.
  • US West Texas Intermediate (WTI) crude rose $1.08, or 1.7%, to $66.36.
  • India's coronavirus death toll crossed 250,000 in the deadliest 24 hours since the pandemic began.
Updated 12 May, 2021 07:32pm
OPEC+ maintains oil policy amid price rally
Markets

OPEC+ maintains oil policy amid price rally

  • A Joint Ministerial Monitoring Committee of OPEC+ met virtually on Wednesday, pronouncing itself "optimistic for (a) year of recovery in 2021.
  • Oil has rallied from historic lows hit last year as the pandemic hit demand, thanks to record output cuts by the Organization of the Petroleum Exporting Countries and allies.
Published 03 Feb, 2021 09:54pm