Oil sizzles at 10-month high on Saudi, Russia output cuts, OPEC upbeat on demand; Brent over $91/bbl
Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a September 19 expiry, were last trading higher by 1.73 per cent at ₹7,359 per bbl
Oil prices rose about 1 per cent on Tuesday, September 12, boosted by a tighter supply outlook, after oil producers Saudi Arabia and Russia extended their voluntary oil supply cuts till the end of the year. The Organisation of Petroleum Exporting Countries (OPEC) said that major economies were faring better than expected despite the rising interest rates.
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