Oil Surges as OPEC+ Pledges to Clear Pandemic-Driven Surplus

• OPEC+ stressed importance of accelerating market re-balancing
• In the U.S., oil inventories dropped for second straight week

Oil climbed to the highest in more than a year in New York as OPEC and its allies pledged to continue whittling down global inventories.

Read more here:  https://www.bloomberg.com/news/articles/2021-02-02/oil-rises-past-55-with-stockpile-draw-adding-impetus-to-rally