US
Saudi Arabia is set to cut output by 1m bpd in February and March
Huge 10m-barrel decline in US crude inventories supports prices
Benchmark KSE-100 index gains 170.75 points to settle at 46,458.13
In focus will be results of US Federal Reserve’s two-day policy meeting
Prices tick up alongside European shares, after Saudi blast reports
Indonesian coast guard seized two vessels over suspected illegal fuel transfers
Global demand can decline in Q1 of 2021 as many regions have re-introduced mobility curbs
Rising Covid-19 cases in China also weigh on prices
OPEC curbs, forecasts of drop in US crude inventories support price rise
IEA pointed to recovery in oil demand later this year to average of 96.6m barrels per day