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Oil inched higher as Russia, Saudi stick to production cutInternational benchmarks for crude oil ended the first trading session of the week slightly higher following Saudi Arabia and Russia’s announcement to stick to production output cuts in December |
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International benchmarks for crude oil ended the first trading session of the week slightly higher following Saudi Arabia and Russia’s announcement to stick to production output cuts in December. The output cuts might be extended to the first quarter of 2024. However, the gains were capped by the lower throughputs at US and Chinese refineries.
Brent gained 29 cents to close at $85.18/barrel.
WTI added 31 cents to close at $80.82/barrel.
