OIL PRICE: ABOVE $49
REUTERS - DECEMBER 4, 2020 - Oil prices jumped around 2% on Friday, heading for a fifth week of gains, as major producers agreed on a compromise to continue some cuts to production to cope with coronavirus-hit demand even though these fell short of expectations.
Brent was up $1.04, or 2.1%, at $49.75 a barrel by 0555 GMT after gaining around 1% on Thursday. West Texas Intermediate rose 84 cents, or 1.8% to stand at $46.48 a barrel.
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