Oil still climbing as Opec+ maintains supply cuts
Hopes of a recovery in demand, especially after the huge US stimulus package, also boosted prices
09 March 2021 - 12:41
London — Oil prices rose towards $69 a barrel on Tuesday as investors focused on prospects for tighter supply due to extended output curbs by oil cartel Opec and its allies, including Russia (Opec+), and amid growing hopes of a recovery in demand.
Crude was at its highest level since the start of the pandemic on Monday after Yemen’s Houthi forces fired drones and missiles at Saudi oil sites on Sunday. Saudi Arabia said it thwarted the strike and prices slipped as supply fears eased...
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