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Oil prices surge as OPEC maintains production cut targets and China's thawing Covid-zero stance sparks hope of demand recovery
1 month ago | By Business Insider
OPEC said after its November meeting it's keeping its oil policy unchanged from October. Vladimir Simieck/AFP/Getty Images
Crude oil futures jumped on Monday after OPEC said its oil policy will remain unchanged from October.
The group has been cutting oil output by 2 million barrels a day due to "market considerations."
Prices were also boosted by hopes that China's eyeing an exit from its Covid-zero stance.
Oil futures jumped Monday, thanks to good news on the demand and supply side: OPEC will be sticking to its production cut target and China is softening its Covid-zero stance, which has...
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