Oil prices reached the highest levels in nearly a year on expectations that OPEC and allied producers led by Russia may keep the production quota in February unchanged amid weak oil demand caused by the global pandemic crisis.
Brent crude futures for the March delivery were at $52.94 per barrel, up 2.2 percent at 07:45 GMT, while the February West Texas Intermediate contract advanced 1.1 percent to $49.43 per barrel.
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