Saudi Arabia's shocking announcement of a cut in crude oil production continued to support oil prices to strengthen at an 11-month high ahead of weekend trading.
In the Asian session, Brent crude futures rose 14 sen to $ 54.52 a barrel, while the US WTI gained 15 sen at $ 50.98 a barrel.
Analysts expect the oil market to continue to strengthen until February, supported by Saudi Arabia's promise to increase production by 1 million barrels a day.
Positive market sentiment following the victory of President-elect Joe Biden further boosted prospects for greater fiscal stimulus, also supporting price strengthening.
However, reports of an increase in coronavirus cases around the world seem to limit the movement of oil prices to higher levels.
The pandemic crisis is seen as worrisome, with the epidemic having caused the highest number of deaths in the United States, killing more than 4,000 people in one day.
Japan, meanwhile, had to declare a state of emergency in Tokyo after the province reported 2,447 new cases on Thursday, prompting the country's daily number to reach 7,000, the highest since the pandemic began.
