NEW YORK (Jan 18): Oil prices steadied on Thursday, boosted by a rebound in U.S. equities and news that OPEC sharply curtailed production in December, after earlier losses on fears about surging U.S. crude output and weakening global demand.
Brent crude oil futures slipped 14 cents to settle at $61.18 a barrel after trading as low as $60.04 intraday. U.S. crude futures fell 24 cents to settle at $52.07 a barrel, up from a low of $50.98.
The price of RON95 and RON97 petrol will increase by 6 sen from midnight today, to RM1.98 per litre and RM2.28 per litre respectively.
The price of diesel will be increased for a third week in a row, this time by 12 sen to RM2.17 per litre for the week of Jan 19 to 25.