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Oil price jump
- Time: 12/03/2021 08:34:24
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{Economic: Al Furat News} Oil prices jumped, on Friday, extending their gains, after “OPEC +” said that it will review its plans to increase production before its next scheduled meeting if the new “Omicron” strain of the Corona virus weakens demand, but prices are still on the path Backtrack for a sixth week.
Brent crude futures rose 12 cents, or 0.2 percent, to $69.79 a barrel at 01:22 GMT, after having jumped 1.2 percent in the previous session.
US West Texas Intermediate crude futures were not less fortunate than the previous one, as they also rose 27 cents, or 0.4 percent, to $ 66.77 a barrel, adding to their gains of 1.4 percent at the end of Thursday's trading.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, surprised the markets on Thursday when it announced plans to increase oil production per month by another 400,000 barrels per day in January.
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{Economic: Al Furat News} Oil prices jumped, on Friday, extending their gains, after “OPEC +” said that it will review its plans to increase production before its next scheduled meeting if the new “Omicron” strain of the Corona virus weakens demand, but prices are still on the path Backtrack for a sixth week.
Brent crude futures rose 12 cents, or 0.2 percent, to $69.79 a barrel at 01:22 GMT, after having jumped 1.2 percent in the previous session.
US West Texas Intermediate crude futures were not less fortunate than the previous one, as they also rose 27 cents, or 0.4 percent, to $ 66.77 a barrel, adding to their gains of 1.4 percent at the end of Thursday's trading.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, surprised the markets on Thursday when it announced plans to increase oil production per month by another 400,000 barrels per day in January.
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