Oil Prices Soar Amid OPEC Delays & COVID19 Vaccine Hopes

Capt. John
  • Pfizer and Moderna say their COVID-19 vaccine is 95% effective.
  • Saudi Arabia urges OPEC+ to be flexible on output.
  • U.S. crude stocks rise and distillate inventories plunge.

Oil prices firmed by about 1% on Nov 18 on hopes OPEC and its allies will delay a planned increase in oil output and after Pfizer said its COVID-19 vaccine was more effective, reports Reuters.

The market was also supported by a smaller-than-expected increase in U.S. crude stockpiles last week.

COVID vaccine trials successful

Br...

https://mfame.guru/oil-prices-soar-amid-opec-delays-covid19-vaccine-hopes/

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