Crude oil futures settled near 11-month highs Feb. 1 as tightened supply outlooks overshadowed pandemic-related demand concerns. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now NYMEX March WTI settled $1.35 higher at $53.55/b and ICE April Brent climbed $1.41 to $56.45/b. Feb. 1 marked the start of Saudi Arabia’s 1 million b/d voluntary crude production cuts, setting the stage for a much tighter supply outlook in the coming months. The start of the Saudi production cuts comes amid strong compliance from OPEC+ as a whole, underscoring bullish market sentiment and overshadowing near-term risks to the demand outlooks posed by lockdowns in Europe and Asia. “We are probably going to continue to see the current virus concerns sort of […]