Oil surges as Opec opts not to lift output
Brent, WTI on track for weekly gains as Opec awaits a more substantial recovery in demand
05 March 2021 - 08:15
Singapore — Oil prices rose on Friday, extending gains from the previous session, after oil cartel Opec and its allies (Opec+) agreed not to increase supply in April as they await a more substantial recovery in demand amid the coronavirus pandemic.
Brent crude futures for May rose 60c, or 0.9%, to $67.34 a barrel at 3.37am GMT, and was on track for a near 2% gain in the week...
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