Singapore - Sana
Oil prices extended their gains today with the decline in crude stocks in the United States and the "OPEC Plus" coalition, which includes major producers, adhered to the policy of reducing production.
Reuters reported that Brent crude futures gained 51 cents, or 0.9 percent, to $ 58.97 a barrel, after reaching their highest levels since February 21 last year in the wake of the OPEC Plus decision.
US West Texas Intermediate crude futures rose 53 cents, or 1 percent, to $ 56.22 a barrel after hitting the highest settlement level in a year yesterday.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as "OPEC Plus", extended its current oil production policy at a meeting yesterday, in an indication that producers are satisfied with the depletion of stocks despite the blurry prospects for a recovery in demand with the continuing pandemic of the Corona virus.