Head Topics

Oil climbs as Opec+ mulls supply additions

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

South Africa Headlines News

Brent and WTI crude futures head higher but oil prices still on course for a sixth week of declines

FILE PHOTO: An oil worker looks on during the filling of an oil tanker at a shipment and storage terminal in Jose, Venezuela File photo: REUTERS/JORGE SILVA

Brent crude futures rose $1.19c, or 1.7%, to $70.86 a barrel, after climbing 1.2% in the previous session. That boosted prices with “traders reluctant to bet against the group eventually pausing its production increases,” ANZ Research analysts said in a note. “As a result, they can react swiftly when we start to get a better sense of the scale of the impact the Omicron variant of Covid-19 could have on the global economy and demand.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oil recovers ahead of Opec meetingProducers prepare to discuss how to respond to the threat of a hit to fuel demand from the Omicron variant
Source: BDliveSA - 🏆 12. / 63 Read more »

Oil prices rise as Opec+ meets to decide on supplyInvestors uncertain whether cartel will keep to previous agreement of releasing more crude or restrain supply
Source: BDliveSA - 🏆 12. / 63 Read more »

Oil producers mull output as Omicron rattles marketsMajor oil producers meet on Thursday to decide on output levels from January, with a freeze possible as the Omicron coronavirus variant rattles the markets. The insane fear porn over omicron is incredibly stupid.
Source: eNCA - 🏆 49. / 51 Read more »

Oil prices rise as Opec+ meets to decide on supplyInvestors uncertain whether cartel will keep to previous agreement of releasing more crude or restrain supply
Source: BDliveSA - 🏆 12. / 63 Read more »

Oil producers mull output as Omicron rattles marketsMajor oil producers meet on Thursday to decide on output levels from January, with a freeze possible as the Omicron coronavirus variant rattles the markets. The insane fear porn over omicron is incredibly stupid.
Source: eNCA - 🏆 49. / 51 Read more »