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