Bullish dynamics converge to put oil price on a roll
Falling stockpiles, promise of output cut and weaker dollar help to power up crude prices
07 January 2021 - 08:18
Tokyo — Oil prices rose on Thursday as Saudi Arabia, the world’s biggest exporter, unilaterally agreed to cut output over the next two months and as US crude stockpiles fell.
It was not immediately clear how the storming of the US Capitol by supporters of President Donald Trump would affect oil markets, though some analysts believe president-elect Joe Biden’s administration will clamp down on US oil production...
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