Crude oil prices expanded gains on Friday, as the dollar slumped as compared to the euro, although market focus is fixed on an OPEC meeting in Vienna where the group is hope to reiterate its high output strategy.
U.S. crude was trading up 23 cents at $41.31 per barrel at 0343 GMT, while globally traded Brent went up 19 cents at $44.03. Both crude contracts settled up 3 per-cent on yesterday.
A 3 per-cent fall in the USD against the euro over the last 24 hours held sway over oil prices as the Organization of the Petroleum Exporting Countries (OPEC) is widely expected to maintain its outcome ceiling of 30 million barrels per day (bpd) at its policy meeting today.
U.S. crude was trading up 23 cents at $41.31 per barrel at 0343 GMT, while globally traded Brent went up 19 cents at $44.03. Both crude contracts settled up 3 per-cent on yesterday.
A 3 per-cent fall in the USD against the euro over the last 24 hours held sway over oil prices as the Organization of the Petroleum Exporting Countries (OPEC) is widely expected to maintain its outcome ceiling of 30 million barrels per day (bpd) at its policy meeting today.
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