Oil prices have remained firm early Friday as the market is set for a third consecutive weekly gain as vaccine news continue to buoy prices despite the ongoing demand concerns. This has been coupled with OPEC+ expecting to delay production increases by three months lowering their cuts from 7.7 million bpd by about 2 million bpd with a meeting scheduled for Nov. 30th and Dec. 1st. Weekly inventories reported a slight build, however, the US operating rate increased by nearly 2%, suggesting an uptick in domestic demand for physical crude supplies. This in part may have offset by reports of residual demand from China as weekly stockpiles have fallen 5 out of the last 7 weeks. Regarding supply, Libya continues to increase production now raising to pre-blockade levels of 1.25 million bpd. The market continues to remain bullish trend with today’s range seen between 39.71 – 42.65.