Oil extends gains as Opec+ sticks to output cuts and US stocks fall
Opec+ expects the oil market deficit to be in place throughout 2021
04 February 2021 - 14:26
London — Oil prices extended gains on Thursday after oil cartel Opec and its allied producers, including Russia (Opec+), stuck to its reduced output policy and US crude stocks fell, with optimism over a new US pandemic relief bill adding further price support.
Brent crude futures gained 25c, or 0.43%, to $58.71 a barrel by 10.25am GMT, having earlier hit their highest since February 21 2020...
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