Cranes at an oil industry support facility in Port Fourchon, Louisiana, U.S., on Wednesday, April 21, 2021.
Oil prices rose on Friday, heading for a fifth straight week of gains, with demand growth seen outstripping supply on bets that OPEC+ producers will be cautious in returning more output to the market from August.
Brent crude futures climbed 7 cents, or 0.1%, to $75.63 a barrel, headed for a 2.9% jump for the week.
"(The market) certainly has momentum behind it...It's really in the hands of OPEC+," said Commonwealth Bank commodities analyst Vivek Dhar.
That's going to determine where oil prices go," Dhar said.
It's, Vivek Dhar, Dhar
. West Texas, Brent, Organization of, Petroleum, Commonwealth Bank, ANZ, U.S
Port Fourchon , Louisiana, U.S, Russia, OPEC, United States, Europe, China, Iran