Oil prices rise again

Tue 02 Feb 2021, 13:08:56
Oil prices rose nearly 1 percent on Tuesday after latest data showed that OPEC plus was cutting crude output in line with its commitments.

International benchmark Brent crude was trading up 0.9 percent at 56.88 per barrel, at 7 a.m. Riyadh time.

WTI crude rose 1.05 percent to $54.11 a barrel.

The implementation of the output curbs among the OPEC members was at 103 percent, while it reached 93 percent for non-OPEC partners, including Russia and Kazakhstan, last month, according to preliminary compliance data.

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