msn.com 18 Sep, 2020 10:15 am

Oil prices tick up, set for 9% weekly gain

Oil prices tick up, set for 9% weekly gain

40% LONDON (Reuters) - Oil prices ticked up on Friday on track for a weekly gain of about 9%, after Saudi Arabia pressed allies to stick to production quotas and banks including Goldman Sachs predicted a supply deficit.The Saudi Arabian energy minister said those who gamble on oil prices would be hurt "like hell".Saudi Arabia said an earlier meeting was possible if oil prices fell alongside demand because of a second wave of coronavirus cases.7 million bpd and stressed at a meeting on Thursday that it would take action against members not complying with the deal.

8 million bpd .Both contracts are set for their strongest weekly gains since early June after Hurricane Sally cut U.

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