Open Demo Account
Home / Market Update / Commodities / Oil Closes Higher Despite OPEC+ Move

Oil Closes Higher Despite OPEC+ Move

M. Ali 4 December, 2020 1:12 am Commodities, Market Update

Oil prices rose on Thursday, despite media reports about an agreement within the OPEC+ alliance to raise production starting from January.

OPEC+ is set to hold monthly meetings starting January to assess market conditions and decide on further production adjustments for the following month.

Brent crude futures for February delivery gained 46 cents, or 1%, to close at $48.71 per barrel.

Meanwhile, the West Texas Intermediate (WTI) crude futures for January delivery added 36 cents, or 0.8%, to finish at $45.64 per barrel.

Tags

Check Also

AUD Plummets to Five-Year Low as China’s Tariff Bombshell Rocks Global Markets

In a dramatic twist of global economic fortunes, the Australian dollar has crashed to its …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends