WTI jumps toward $81.00; Saudi Arabia to extend voluntary production cut – by MSalordFX WTI Energy Commodities
Crude oil prices rebounded and turned positive following the announcement.rebounded from their weekly lows after Saudi Arabia announced that it will extend the voluntary cut of one million barrels per day for another month. The Ministry of Energy informed that it could be extended or extended and deepened. Following the announcement, the West Texas Intermediate crude oil price per barrel surged from $79.00 to $80.85 and was trading around $80.50, indicating a gain of roughly 1.75% for the day.
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