Oil prices climb as fears subside over Omicron lockdowns

World Oil | Dec 6, 2021 at 1:00 AM
  • Oil climbed amid broader market gains on reports that early cases of the omicron Covid-19 variant have been fairly mild, easing concern about a possible blow to demand.
  • OPEC+ decided to keep adding extra barrels to the market in January, but essentially put a floor under prices by giving itself the option to change the plan at short notice.
  • Saudi Aramco raised its key Arab Light grade for customers in Asia by 60 cents from December to $3.30 a barrel above a benchmark.