Oil prices climbed on Friday after the producer group OPEC+ said it could review its production hike policy at short notice if oil demand collapsed due to a rising number of lockdowns, while Brent was on course for a sixth week of declines. Brent crude futures rose $1.91 cents, or 2.7%, to $71.58 a barrel by 0959 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.73, or 2.6%, to $68.23 a barrel. The Organization of the Petroleum Exporting Countries, Russia and allies, together called OPEC+, surprised the market on Thursday when it stuck to plans to add 400,000 barrels per day (bpd) supply in January. read more “Its decision to continue increasing monthly crude production is a vote of […]