Crude hits 30-month high as OPEC+ opts to keep supply steady

The Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) surprised expectations by deciding not to go for a production increase as oil markets started to recover at a faster pace, driving crude prices up by more than 1.0 percent on Friday.
On the contrary, Saudi Arabia is allegedly set to extend its voluntary output cuts of 1.0 million barrels per day for another month. Saudi Energy Minister Prince Abdulaziz bin Salman noted the cartel elected to follow a "careful and proactive approach" as uncertainty surrounding the oil markets' recovery persists.
International benchmark Brent for May delivery strengthened 1.74 percent at 2:33 am ET to go for 67.90 dollars per barrel, trading at its highest level since November 2018. Two minutes later, West Texas Intermediate (WTI) for settlements in April advanced 1.60 percent, selling at 64.85 dollars per barrel to hit a 30-month high.