Oil prices rose today closing out the month higher on the prospect of OPEC+ continuing to keep production cuts in place. Speaking about yesterday’s jump in crude inventories “We … expect U.S. inventories to rise less than normal in reflection of a global oil market in a slight deficit,” SEB analyst Bjarne Schieldrop said. “This will likely hand support to the Brent crude oil price going forward.” Meanwhile, the US economy grew at a 3.4% annualized rate in the fourth quarter, higher than the previously reported 3.2% pace. Inflation data for now seems to be affirming the case the Fed to hold off on rate cuts but Jerome Powell is already hinting at cutting in the next cycle. WTI traded up $1.82 or 2.2% to close at $83.17. Brent settled may at $87.48/bbl, the highest level since Oct. 27th, gaining $1.39 or 1.6% on the day. The more active contract traded up $1.58 to close at $87.00.