Crude oil futures surged more than 3 U.S. dollars a barrel Friday on concerns about supply disruptions.
The production of Nigeria, Africa's biggest oil producer and a major U.S. supplier, could fall by as much as 1 million barrels a day due to the nation's deteriorating security situation and planned maintenance.
Meanwhile, North Sea oil production has been cut by 280,000 barrels a day due to technical problems at a Total SA oil field, and that Russian crude output could fall this year due to the depletion of a large oil field.
Concerns that Venezuela might retaliate in some way after ExxonMobil Corp. won court orders freezing the assets of its state oil company also pushed prices higher.
Light, sweet crude for March delivery jumped 3.66 dollars to 91.77 a barrel on the New York Mercantile Exchange.
In London, March Brent crude rose 3.43 dollars to settle at 91.94 dollars a barrel on the ICE Futures exchange.
Source: Xinhua
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