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Oil Price Fundamental Daily Forecast – Firms after OPEC+ Maintains Production Cuts, US Inventories DrawOPEC+ maintained its oil output policy at a meeting on Wednesday, a sign producers are happy that their deep supply cuts are draining inventories.
Feb 04, 2021 10:52 AM GMT
U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are edging higher on Thursday, helped by Wednesday’s government report that showed another draw in crude stockpiles, and after OPEC+ members agreed to continue its reduced output policy.
Additional support is being generated by optimism over a speedier U.S. economic recovery on the prospect of additional stimulus from Washington and a successful rollout of the U.S. vaccination program. ....

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