Oil prices climb in light trading before Christmas
Xinhua, December 24, 2016 Adjust font size:
Oil prices ended slightly higher on Friday amid thin trading before Christmas holidays.
Oil prices were lingering around the highest level since mid-2015, bolstered by a deal by the Organization of the Petroleum Exporting Countries and non-members to cut output by almost 1.8 million barrels per day from Jan. 1, 2017.
Meanwhile, the U.S. oil services firm Baker Hughes reported on Friday that its weekly count of oil rigs operating in U.S. fields rose for an eighth straight week. The rig count added 13 to 523, lower than 538 rigs operating at this time last year.
The West Texas Intermediate for February Delivery increased 0.07 dollars to settle at 53.02 dollars a barrel on the New York Mercantile Exchange, while Brent crude for February delivery added 0.11 dollars to close at 55.16 dollars a barrel on the London ICE Futures Exchange. Enditem