Oil climbs as hopes over Opec+ output curbs offset concerns about weaker fuel demand
Brent crude futures for January rose 1% while US West Texas Intermediate crude for December was up 1.4%
16 November 2020 - 08:02
Singapore — Oil prices climbed on Monday, recouping some losses from the previous session as hopes that Opec+ will hold current output curbs offset concerns about weaker fuel demand due to rising Covid-19 cases and higher production from Libya.
Figures showing a rebound in the world’s second and third-largest economies, China and Japan, also supported prices, with data that Chinese refineries processed the most crude yet in October on a daily basis...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.