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Oil jumps as Saudi Arabia extends voluntary output cuts for another month

That is resulting in a decent jump in oil prices on the session, with WTI crude moving up by nearly 2% to around $71.60 currently. At the same time, Russia is also saying that it will reduce oil supply by 500k bpd in August and that will keep a lid on supply conditions even as the oil market is expected to tighten heading into the summer.In the bigger picture though, oil still has a bit of a troubling outlook with regards to the technicals. At each time there is good news from the fundamental si... Read More

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Voluntary

Output

Cuts

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Forex

Posted: Jul 3 2023, 09:39

Author Name: forexlive

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