Crude oil futures ended higher on Thursday, extending their previous session’s gains, after the Organization of the Petroleum Exporting Countries and their allies (OPEC+) announced their decision about output cuts. OPEC+ announced that they have reached an agreement to pare current production cuts of 7.7 million barrels per day to 7.2 million barrels per day beginning in January. Some support also came in as Britain approved Pfizer Inc.’s Covid-19 vaccine, clearing the way for mass inoculation. Meanwhile, the US FDA is holding its advisory committee next week to confirm a vaccine rollout plan, while the European Medicines Agency is likely to give emergency approval on December 29th.
Crude oil futures for January rose $0.36 or 0.8 percent to settle at $45.64 a barrel on the New York Mercantile Exchange. February Brent crude gained $0.60 or 1.23 percent to settle at $48.85 a barrel on London's Intercontinental Exchange.
Start Research-backed Investing ...Now. Subscribe to Sapphire
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: