Global crude oil futures posted their largest weekly percentage gains on record, today, due to hopes that a global deal to cut crude supply worldwide will emerge early next week.
So, Brent crude oil futures ended the week at 34.11 dollars a barrel. For the week, the contract shot up 36.8 per cent, the largest weekly percentage gain, in the contract’s history.
US crude oil futures closed the week at 28.34 dollars a barrel, spurting 31.8 per cent, during the week, which is its largest gain on record.
OPEC has scheduled an emergency meeting on Monday, led by Saudi Arabia, where cuts equal to 10 percent of world supply - about 10 million barrels per day - could be agreed-upon. (AIR)