Oil steady as supply cuts offset fears on protracted lockdowns
Saudi Arabia is set to cut output by 1-million barrels per day as fears grow on stalled vaccine rollouts
29 January 2021 - 08:16
Melbourne — Oil prices were mixed on Friday as a pending supply cut by Saudi Arabia and lower US oil stocks helped counter risks of slowing fuel demand due to stalled vaccine rollouts and contagious new coronavirus strains.
US West Texas Intermediate (WTI) crude futures slipped 3c to $52.31 a barrel at 1.51am GMT, after falling 1% on Thursday...
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