WTI Settles Above $ 52

WTI settled unchanged this week, with futures settling above $52 a barrel, but below an 11-month high that touched it earlier in the month, as worries about fuel demand overshadowed lower global supplies.

Earlier in January, OPEC+ announced production cuts through the first quarter of 2021, Saudi Arabia engaged in voluntary production cuts of 1 million barrels per day in February and March also Iraq joined voluntary production cuts to offset last year’s surplus.