Oil settles higher amid tightened supply outlooks, easing US lockdowns

摘要

Crude futures settled higher Jan. 25 amid tightened supply outlooksand easing COVID-19 restrictions in the US.NYMEX March WTI settled 50 cents higher at $52.77/b and ICEMarch Brent was up 47 cents at $55.88/b.Oil prices had moved higher overnight amid reports of tightenedcompliance with OPEC+ production quotas. Iraq is slashing oilproduction to making up for the excess production over its OPEC+output quota. It will pump 3.6 million b/d this month and next month,the lowest since 2015 and down from 3.85 million b/d in December.