¬†Crude oil futures edged higher in mid-morning trade in Asia Jan. 5 on hopes that OPEC+ will maintain January production quotas into February, but the gains were tapered by concerns over tightening lockdown restrictions in Europe. Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 10:53 am Singapore time (0253 GMT), the ICE Brent March contract was up 10 cents/b (0.20%) from the Jan. 4 settle at $51.19/b, while the February NYMEX light sweet crude contract was up 17 cents/b (0.36%) at $47.79/b. The markers had fallen by 1.37% and 1.85%, respectively on Jan. 4. A new year rise in oil prices lost traction when the Jan. 4 OPEC and non-OPEC ministerial meeting was adjourned to later Jan. 5 without an agreement on February production quotas. The majority of OPEC+ members were reportedly in favor of maintaining the January production quotas […]