The same day, sources said Saudi officials said that OPEC and non-OPEC oil producers should continue to cooperate after the expiration of the crude oil cut-off agreement. Analysts said the news on the day to support oil prices.
As of the close, the New York Mercantile Exchange, light sweet crude for delivery in February rose 0.25 US dollars to close at 63.62 US dollars a barrel, or 0.39%. March delivery of London Brent crude oil futures rose 0.42 US dollars to close at 69.03 US dollars a barrel, or 0.61%.
A report released by Energy Quest on Jan. 16, an Australian energy consulting firm, shows that the export of liquefied natural gas in Australia reached 56.8 million tons, a record high in 2017 up 26.3% over 2016.