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WTI Settles Near $63 Amid Robust Signals

Oil climbed by the most in nearly two weeks with the OPEC+ alliance and BP Plc pointing to signs of a robust demand recovery. (Bloomberg) Oil climbed by the most in nearly two weeks with the OPEC+ alliance and BP Plc pointing to signs of a robust demand recovery taking shape in parts of the world. Futures in New York jumped 1.7% on Tuesday. An OPEC+ committee decided this week to move forward with a planned gradual crude production increase, anticipating a strong demand rebound this year, even as coronavirus cases rise in countries such as India. The producer group decided to skip a Wednesday meeting and instead gather in early June.

OPEC+ Confirms Plan to Gently Hike Supply as Demand Recovers

OPEC+ Confirms Plan to Gently Hike Supply as Demand Recovers Bloomberg 2 hrs ago Grant Smith, Javier Blas and Salma El Wardany © Bloomberg Oil pumping jacks, also known as nodding donkeys , in an oilfield near Neftekamsk, in the Republic of Bashkortostan, Russia, on Thursday, Nov. 19, 2020. The flaring coronavirus outbreak will be a key issue for OPEC+ when it meets at the end of the month to decide on whether to delay a planned easing of cuts early next year. (Bloomberg) OPEC and its allies will proceed with plans to gently revive oil production as global demand recovers from the pandemic, despite surging infections in India.

Oil Rises With Demand Optimism Offsetting Virus Concerns

Oil Rises With Demand Optimism Offsetting Virus Concerns Bloomberg 1 hr ago Andres Guerra Luz (Bloomberg) Oil climbed by the most in nearly two weeks with the OPEC+ alliance and BP Plc pointing to signs of a robust demand recovery taking shape in parts of the world. Popular Searches Futures in New York jumped 1.7% on Tuesday. An OPEC+ committee decided this week to move forward with a planned gradual crude production increase, anticipating a strong demand rebound this year, even as coronavirus cases rise in countries such as India. The producer group decided to skip a Wednesday meeting and instead gather in early June.

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