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Investors are still feeling their feet as the year begins and await key US data due this week.
Japanese Prime Minister Fumio Kishida announced on Thursday that they will decide on a quasi-emergency declaration for parts of Japan on Friday, as reported by Reuters.
A Reuters survey showed on Thursday that the increase in OPEC oil production in December was also less than the increase planned under an agreement with allies, highlighting the constraints faced by production capacity that curb supply as global demand recovers from the repercussions of the Corona pandemic.
The survey found that the Organization of the Petroleum Exporting Countries (OPEC) pumped 27.80 million bpd in December, an increase of 70,000 bpd from the previous month, but not the 253,000 bpd increase allowed under the supply deal.
Hours after the OPEC + decision to proceed with fixing the agreed production plan next February, the world’s largest oil-producing company, Saudi Aramco, took a new decision regarding the selling prices of its products.
Saudi Aramco said a while ago that it set the premium for the official selling price of Arab Light crude to Asia at $2.20 above the Oman/Dubai average for the month of February, which is $1.10 per barrel lower than the January premium.
The US dollar returned to its highest level in 14 months, which it recently reached, as the minutes of the last meeting of the US Federal Reserve reinforced expectations of rising US interest rates in March.
The US dollar index, which measures its performance against a basket of currencies, rose 0.2% to 96.393, near its high level reached in November at 96.938.
