Oil Prices Are Progressing Towards $ 72 A Barrel With Support For Expectations

BAGHDAD / NINA / -Oil prices rose towards $ 72 a barrel on Friday, with trading near its highest levels in two years, as OPEC + plans overturned on supply and demand for concerns about the irregularity of vaccinations against COVID-19 globally.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies said they were progressing in the constraints of supplies agreed. The weekly supplies report on Thursday showed the decline of US crude inventories last week.

Brent crude increased 33 cents equivalent to 0.5% to $ 71.64 a barrel. It was higher than at the meeting at $ 71.99, its highest level since May 2019. US crude wed up 22 cents or 0.3% to $ 69.03.

On a weekly basis, Brent is heading for more than 2.8 percent and west of Texas mediator to an increase of 4%. End

Source: National Iraqi News Agency