Oil prices up on Saudi output cut in July
- Date: 05-Jun-2023
- Source: Al Bawaba
- Sector:Oil & Gas
- Country:Saudi Arabia
Oil prices up on Saudi output cut in July
ALBAWABA – Oil prices rose around $1 on the barrel early Monday after the Kingdom of Saudi Arabia announced an additional production cut in July, by one million barrels per day.
Brent crude futures were trading up $1.02 or 1.3 percent on the barrel, while West Texas Intermediate (WTI) rose $1.02 on the barrel, or 1.4 percent, according to Reuters.
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