Oil prices slip despite Saudi’s July output cut
- Date: 06-Jun-2023
- Source: Al Bawaba
- Sector:Oil & Gas
- Country:Saudi Arabia
Oil prices slip despite Saudi’s July output cut
ALBAWAB – Oil prices fell $0.51 and $0.54 on the barrel of Brent and West Texas Intermediate (WTI) crudes, respectively, on Tuesday, having gained $2.6 and $3.3 on the barrel just one day ago, Monday.
Brent crude futures slipped to $76.20 and WTI crude to $71.61, despite Saudi Arabia’s announcement of further production cuts, by 1 million barrels per day as of July.
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