Oil firms as Opec+ expected to delay output increase
Opec+ is leaning towards delaying a plan to boost output by 2-million bpd in early 2021 by three or six months
18 November 2020 - 14:18
London — Oil prices firmed on Wednesday as hopes that oil cartel Opec and its allies, including Russia (Opec+) will delay a planned increase in oil output to offset a bigger than expected build in US crude inventories.
Brent crude futures rose 53c, or 1.2%, to $44.28 a barrel by 10.46am GMT, while US West Texas Intermediate (WTI) crude gained 44c, or 1.1%, to $41.87...
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.