In the international market, the crude oil prices has ended in gain. The global crude oil futures posted their largest weekly percentage gains on record. As per market experts, the expectation over the global deal to cut crude supply worldwide will emerge early next week has supported the upward rally of crude oil.
Brent crude oil futures ended the week at 34.11 dollars a barrel. For the week, the contract shot up 36.8%, the largest weekly percentage gain, in the history. US crude oil futures closed the week at 28.34 dollars a barrel, spurting 31.8%, 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% of world supply – about 10 million barrels per day – could be agreed-upon.