Saudi Arabia’s ADDITIONAL output cuts fuel oil price rally ...United Arab Emirates

Crude prices reversed early trading losses and finally advanced on Monday as Saudi Arabia ordered its state oil giant to slash production by 1 million barrels per day in addition to cuts agreed to by the OPEC+ deal. Futures for US oil rose over one percent, with West Texas Intermediate (WTI) for June delivery trading above $25 a barrel after losing three and a half percent in earlier action. Global benchmark Brent jumped 0.4 percent to more than $31 per barrel amid choppy trading, before erasing most of the gains. The moves in the oil market come as Saudi Arabia, which was hit hard by low prices for the commodity, said it would further

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Saudi Arabia’s ADDITIONAL output cuts fuel oil price rally ...United Arab Emirates

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