Oil rises above $67 on stronger demand, economic recovery in US, China

Oil rises above $67 on stronger demand, economic recovery in US, China

Oil rose above $67 a barrel on Friday, gaining for a fifth session, as a stronger demand outlook and signs of economic recovery in China and the United States offset rising Covid-19 infections in some other major economies.

Chin's gross domestic product jumped 18.3 per cent in the first quarter from a year earlier, official data showed on Friday.

On Thursday, figures showed a rise in US retail sales and a drop in unemployment claims.





Given the improving outlook for the world's two biggest economies, there