BREAKING: OIL jumps as Saudi Arabia extends output cuts

2:00 PM 3 August 2023

Oil prices jumped after Saudi Arabia announced extension of voluntary 1 million barrel production cut. Cut will be extended through September but Saudis have already warned that it can not only be extended but also deepened if needed.

Oil jumped over 1% on the news with Brent (OIL) trading above $84 per barrel and WTI breaking above $80 mark.

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Source: xStation5

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