Oil heading for biggest weekly gain in four months as OPEC+ output decision vindicated

Arab News | Dec 10, 2021 at 3:02 PM
  • Oil prices rose on Friday and headed for their biggest weekly advance since late August as investors became less concerned over the potential effect of the omicron COVID-19 variant on economic growth and demand for fuel.
  • Both grades are more than 7 percent higher this week, and their first weekly advance in seven weeks.
  • There has not been a return to the strict limits on travel seen during earlier waves of the pandemic.