Oil surged as OPEC+ rebuffed calls to increase outputs
Oil surged as OPEC+ rebuffed calls to increase outputs
International benchmarks for crude oil surged sharply on Friday, 5 November 2021 as the market became concerned over the supply outlook after OPEC and allies shrugged off calls to increase production outputs although the global demand has returned to near the pre-pandemic levels.
Brent jumped $2.20 to close at $82.74/barrel.
WTI rose $2.46 to settler at $81.27/barrel.