Oil prices edge up on hope vaccines will improve fuel demand

* U.S., UK roll out COVID-19 vaccine deliveries
* Germany to widen lockdowns as it battles COVID-19
* U.S. energy rigs rise the most since January - Baker
Hughes
* OPEC+ to meet on Dec. 16 and Jan. 4

By Florence Tan
SINGAPORE, Dec 14 (Reuters) - Oil prices rose on Monday,
pushing Brent back above $50 a barrel, buoyed by hopes that a
rollout of coronavirus vaccines will lift global fuel demand,
while an extension of Brexit talks eased jitters on that front
for now.
Brent crude futures LCOc1 for February rose 8 cents, or
0.2%, to $50.05 a barrel by 0137 GMT, while U.S. West Texas
Intermediate crude futures CLc1 for January were up 4 cents,
or 0.1%, at $46.61 a barrel.
Oil prices have rallied for six consecutive weeks, their
longest stretch of gains since June.
The United States kicked off its vaccination campaign
against COVID-19, buoying hopes that pandemic restrictions could
end soon and lift demand at the world's largest oil consumer.
An extension of Brexit talks among European powers also
buoyed financial markets on Monday. CMC Markets' chief markets strategist Michael McCarthy
asked: "Having 'bought the rumour' of an effective vaccine, now
that delivery is here will investors 'sell the fact'?"
Major European countries continued in lockdown mode to curb
the spread of COVID-19 which has reduced fuel demand. For
example, Germany, the fourth largest economy in the world, plans
to impose stricter lockdown from Wednesday to battle the
virus. Investors are looking ahead to two meetings between the
Organization of the Petroleum Exporting Countries and its allies
including Russia, a grouping known as OPEC+.
The OPEC+ joint ministerial monitoring committee (JMMC) that
monitors compliance among members will meet on Dec. 16, while
OPEC+ will meet on Jan. 4 to study the market after their last
decision to limit production rises to 500,000 barrels per day
starting next year. In the United States, energy firms last week added the most
oil and natural gas rigs in a week since January as producers
continued to return to the wellpad. Two separate fires occurred at Nigeria's Qua Iboe crude oil
export terminal and at an oil pipeline in Iran on Sunday but the
incidents have mostly been contained.