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Brent crude grows 0.27%; Nymex adds 0.44% Friday

Brent crude grows 0.27%; Nymex adds 0.44% Friday

Mubasher: Oil prices increased on Friday, amid investors’ positive expectations regarding producers’ efforts to control the market.

Brent crude, for February delivery, grew 0.27% to $63.48 per barrel (pb) by 7:54 am GMT, while US crude (Nymex), for January delivery, added 0.44% to reach $57.29 pb.

Later on Friday, Baker Hughes Oilfield Services will report some drilling platforms in the US.

Earlier in November, OPEC’s monthly bulletin showed a decline of 133,500 barrels per day (bpd), which brought the group’s oil output during the month to 32.45 million, which is its lowest level in almost six months.