Crude futures settle higher

Oil prices climbed on Friday.

The West Texas Intermediate for February delivery gained 25 cents, or 0.42 percent, to settle at 59.44 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for March delivery added 37 cents, or 0.58 percent, to settle at 64.13 dollars a barrel on the London ICE Futures Exchange.

China's 15th Five-Year Plan proposal sends a strong signal of the country's commitment to upholding openness and cooperation, which will promote further development for the country and the world, said officials and scholars around the world.

The draft 15th Five-Year Plan, the blueprint that will guide the world's second-largest economy from 2026 to 2030, is central to steer China to move toward modernization amid technological disruption, demographic shifts and an increasingly fractured global order, according to the scholars.

"China's 15th Five-Year Plan is not a rigid model; it is more like benchmarks for growth targets and focal points. Chinese economists and economic decision-makers are not just focusing on qualitative growth, but also on innovative development. We're witnessing new transportation methods, robotics and artificial intelligence," said Andrey Denisov, first deputy chair of Russia's Federation Council Committee on Foreign Affairs and former Russian Ambassador to China.

"The 15th Five-Year Plan is of great importance to China's development. The country is poised to make remarkable advancements in various sectors, including artificial intelligence, high-end manufacturing and infrastructure construction. Given the shifting global context and China's transition towards high-quality development, I am confident that this plan will herald a new era for China's development," said Kamel Mansari, news director of the French-language daily Le Jeune Independent.

Scholars also noted that China's commitment to high-quality development and high-level opening-up will promote win-win results and benefit the world.

"China has emerged as a key partner for most countries worldwide, and a preferred partner due to its closeness and integration with global communities, as well as its strong humanitarian perspective. The Chinese economy has not only benefited itself; it has helped many economies worldwide flourish through its partnerships," said Dirgham Muhammad Ali, an Iraqi economic expert.

China's National People's Congress (NPC) is scheduled to open in Beijing on Wednesday, with lawmakers set to approve the 15th Five-Year Plan.