Tue, 2021-02-02 08:59
Oil prices rose nearly 1 percent on Tuesday after latest data showed that OPEC+ was cutting crude output in line with its commitments.
International benchmark Brent crude was trading up 0.9 percent at 56.88 per barrel, at 7 a.m. Riyadh time.
WTI crude rose 1.05 percent to $54.11 a barrel.
The implementation of the output curbs among the OPEC members was at 103 percent, while it reached 93 percent for non-OPEC partners, including Russia and Kazakhstan, last month, according to preliminary compliance data.
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UAE imports $2.9bn in non-oil goods from Egypt in 2020OPEC+ committed to achieve 99% of agreed oil cuts