Oil near $70 a barrel on Opec+ supply cuts
US crude output will grow this year, and Opec expects stronger oil demand recovery in the second half
12 March 2021 - 13:29
London — Oil hovered near $70 a barrel on Friday, supported by production cuts by major oil producers and optimism about a demand recovery in the second half of the year.
Benchmark Brent rose 3c, or 0.04%, to $69.66 a barrel by 10.58am GMT while US West Texas Intermediate (WTI) crude was at $66.03 a barrel, up 1c, or 0.02%. Both recovered from losses earlier in the session during Asian trade...
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