Mhong
2021-10-05
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Oil jumps above US$81 with Opec+ sticking to output increase
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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil jumps above US$81 with Opec+ sticking to output increase\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-05 07:27 GMT+8 <a href=http://www.straitstimes.com/business/companies-markets/oil-jumps-above-us81-with-opec-sticking-to-output-increase><strong>The Straits Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BENGALURU (REUTERS) - Oil jumped to a three-year peak on Monday (Oct 4) after Opec+ confirmed it would stick to its current output policy as demand for petroleum products rebounds, despite pressure ...</p>\n\n<a href=\"http://www.straitstimes.com/business/companies-markets/oil-jumps-above-us81-with-opec-sticking-to-output-increase\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"http://www.straitstimes.com/business/companies-markets/oil-jumps-above-us81-with-opec-sticking-to-output-increase","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2173617992","content_text":"BENGALURU (REUTERS) - Oil jumped to a three-year peak on Monday (Oct 4) after Opec+ confirmed it would stick to its current output policy as demand for petroleum products rebounds, despite pressure from some countries for a bigger boost to production.\nThe producer club's decision to keep increasing oil output gradually sent prices sharply higher, adding to inflationary pressures that consuming nations fear will derail an economic recovery from the coronavirus pandemic.\nOpec+ agreed in July to boost output by 400,000 barrels per day (bpd) each month until at least April next year to phase out 5.8 million bpd of existing production cuts.\nBrent crude settled up US$1.98, or 2.5 per cent, to US$81.26 a barrel. It rose 1.5 per cent last week for a fourth consecutive weekly gain, and was back up to highs last seen in 2018.\nUS oil settled up US$1.74, or 2.3 per cent, to US$77.62 a barrel after gaining for the past six weeks, and was at its highest since 2014.\n\"Given the demand picture and the outcome of the Opec meeting, the overall sentiment around crude is bullish,\" said Mr John Kilduff, partner at Again Capital LLC in New York.\nDemand for coal and natural gas has exceeded pre-Covid-19 highs with oil closely trailing, according to energy watchdog, the International Energy Agency. 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