Oil surges as rumours hint Saudi Arabia has cut its production

17:19 6 August 2018
Both Brent and WTI prices are advancing today. As a reason behind such performance one can name remarks from OPEC delegates concerning the Saudi Arabian oil output. Namely, Saudi Arabia is said to have decreased the oil production in July as it was unable to find buyers for surplus resulting from increased production rates. At 5:10 BST Brent is trading at $74.13 (+1.26%) while WTI trades at $69.80 (+1.91%).

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