Oil prices rise as producers agree on supply compromise
TOKYO: Oil prices rose on Friday, heading for a fifth week of gains, after major producers agreed to continue to restrain production to cope with coronavirus-hit demand but the compromise fell short of expectations.
Brent was up 19 cents, or 0.4 per cent, at $48.89 a barrel by 0102 GMT after gaining around 1 per cent on Thursday. West Texas Intermediate had risen 18 cents, or 0.4 per cent at $45.82 a barrel.
