Oil prices today: Brent, MCX crude edge higher as Saudi Arabia, Russia announce August output cuts; check details
The cuts amount to 1.5 per cent of global supply and bring the total pledged by the OPEC+ oil producers to 5.16 million bpd.
Oil prices rose on July 3 after top exporters Saudi Arabia and Russia announced supply cuts for August, overshadowing concern over a global economic slowdown and the potential for further increases to US interest rates. Saudi Arabia on Monday announced that it would extend its voluntary cut of one million barrels per day (bpd) for another month to include August, the state news agency said.
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