Oil rises as OPEC compliance eclipses boom in U.S. output
Oil rose on Thursday after a survey showed OPEC’s commitment to its supply cuts remains in place, even as U.S. production topped 10 million barrels per day for the first time since 1970. Brent April crude futures rose 59 cents to $69.48 a barrel by 1438, while NYMEX crude for March delivery also rose 59 cents to $65.32. Brent crude rose by 3.3 percent in January, its strongest start to the year for five years, in line with a broad rise in other risk-linked assets such as U.S. equities, which hit record highs last month and marked their biggest January increase since 1997.
Source:: https://finance.yahoo.com/news/oil-extends-gains-robust-opec-012543147.html
