Oil rises as Opec and Russia to lift output
Producers agree on supply compromise as Covid-19 weighs on oil demand
04 December 2020 - 07:46
Tokyo — Oil prices rose on Friday, heading for a fifth week of gains, after major producers agreed to continue to restrain production to cope with coronavirus-hit demand but the compromise fell short of expectations.
Brent was up 19c, or 0.4%, at $48.89 a barrel at 1.02am GMT after gaining about 1% on Thursday. West Texas Intermediate had risen 18c, or 0.4%, at $45.82 a barrel...
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.