(MENAFN) On Wednesday, oil costs went up due to announcements on the capabilities of China’s economy to maintain economic development and on estimates of an unexpected reserves decrease in the US, despite the soar in the number of omicron cases.
International benchmark Brent crude was trading at USD74 per barrel at 0730 GMT for a 0.03 percent increase after ending the former session at USD73.98 per barrel.
American benchmark West Texas Intermediate (WTI) reached USD71.35 per barrel simultaneously for a 0.32 percent gain after the exchange closed at USD71.12 per barrel in the preceding trading session.
The deputy head of the National Development and Reform Commission, China's economic planning body, Ning Jizhe, reiterated at a meeting with Xinhua on Wednesday that China’s administration will prepare government expenditure, reinforce funding for producers and small firms, and guarantee cost steadiness.
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