Mubasher: Crude oil prices went up as the prices of Brent and West Texas Intermediate (WTI) increased in the week that ended Friday.
Brent crude grew 1.8% to the level of $55.21 per barrel (pb), while the price for WTI crude oil (Nymex) rose 0.8% and closed the week at $51.9 pb.
This comes after the recent OPEC agreements regarding the output reduction in global markets.
On Friday, Baker Hughes reported that the number of US oil rigs increased by 12 to a total of 510 oil rigs in the week that ended 16 December.
