Oil futures head higher on Tuesday, shaking off an early decline as prices find support in the wake of Saudi Arabia's decision to extend its voluntary...
Oil futures headed higher on Tuesday, shaking off an early decline as prices found support in the wake of Saudi Arabia’s decision to extend its voluntary production cut of 1 million barrels a day through the end of this year.
The report said Saudi production in October, November and December would effectively be 9 million barrels a day. Crude prices more than recovered from an early August swoon as the market focus turned back to tightening supplies, enhanced by expectations Saudi Arabia would extend its production cut through October.
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