Oil rises over 2% ahead of OPEC meeting

01/12/2021 Argaam

Oil drilling rigs

Oil prices gained more than 2% on Wednesday ahead of the OPEC meeting amid the threat to global demand from the Omicron variant.

 

Brent crude futures rose $1.90, or 2.7%, to $71.13 a barrel.

 

US West Texas Intermediate (WTI) crude futures climbed $1.71, or 2.6%, to $67.89 a barrel.

 

The Organization of the Petroleum Exporting Countries (OPEC) will meet today with the OPEC+ meeting scheduled on Thursday.

 

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