Oil posts third weekly rise on outagesBloombergOil rose for a third straight week as demand remained resilient, while supplies are frayed across the OPEC+ coalition and beyond. Kazakhstan’s biggest oil producer has altered output at the giant Tengiz field following protests, while Libyan production has also been crimped. “The oil market remains very tight and seems like it will go higher,” said Ed Moya, Oanda Corp’s senior market analyst for the Americas. TCO is a joint venture led by Chevron Corp that pumps about one-third of the nation’s oil. A deep freeze in Canada and the northern US has also disrupted oil flows this week.

Source: Taipei Times January 09, 2022 00:57 UTC