Oil Climbs on Signs Saudi Output Cuts Could Be Extended - News Summed Up

Oil Climbs on Signs Saudi Output Cuts Could Be Extended


•Oil prices climbed Monday, supported by signs that aggressive OPEC production cuts are rebalancing an oversupplied market despite worries that demand will crumble. •West Texas Intermediate futures, the U.S. oil benchmark, climbed 72 cents, or 1.3%, to $56.79 a barrel on the New York Mercantile Exchange. Prices have risen 25% for the year, though they are still 26% below their October multiyear highs.


Source: Wall Street Journal March 11, 2019 11:23 UTC



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