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Oil surges to $67 as Opec holds output steady – Telegraph.co.uk

Brent crude jumps 5pc to highest level in more than a year after producers surprise market

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The aggressive supply management has helped to drain inventories, while worldwide demand is recovering with the rollout of Covid vaccines.
Higher prices meant Opec officials were under pressure from some members to turn the taps back on as they met via video-link on Thursday. 
The market had expected Saudi Arabia to reverse the voluntary production cut it introduced in January, and for other members to be allowed to raise production by 500,000 barrels per day.
But the meeting started with the Saudi…

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