oil prices have been supported by the possibility of OPEC producers taking a decision against increasing production in addition to the decrease in US fuel stocks, which led to the rise in oil prices for the second consecutive session. < br />
According to Arabnet, Brent crude futures added 53 cents, or 0.8%, to $ 64.60 a barrel, after rising more than 2% on Wednesday. . US West Texas Intermediate crude futures gained 46 cents, or 0.8%, to $ 61.74 a barrel.
Three sources in OPEC +, which includes the Organization of the Petroleum Exporting Countries OPEC and its allies, told Reuters that the group is considering extending production cuts until April rather than increasing production, as the recovery in oil demand is still fragile due to the Corona virus crisis.
“The Reuters report provided a double conclusion for today's meeting,” said Oanda's chief market analyst for Asia-Pacific, Geoffrey Haley.
City analysts expected the OPEC + group to reach a settlement on a nominal increase in production of 500 thousand barrels per day.
The bank expects Saudi Arabia to maintain its additional voluntary cut of 994 thousand barrels per day, and to maintain its share of production at 8.256 million barrels per day.
In the United States, and despite a record high crude oil inventories of more than 21 million barrels last week, gasoline inventories fell by the most in 30 years as refining activities plunged to their lowest level ever due to freezing weather in Texas, cutting electricity supplies to millions. / p>
City analysts said that the United States turned into a net importer of oil last week, with an amount of 2.2 million barrels per day.
