Oil prices edged up on Wednesday after Saudi Arabia agreed to deeper cuts in output during an OPEC+ meeting on Tuesday, Jan. 5.

 

International benchmark Brent crude was trading up 0.5% at $53.88 per barrel, at 9.04 am Makkah time.

 

WTI crude held at $50 a barrel.

 

Saudi Arabia offered voluntary cuts to its oil production by additional 1 million barrels per day (bpd) in February and March, Minister of Energy Prince Abdulaziz Bin Salman said.

 

Prince Abdulaziz added during the OPEC+ meeting that the Kingdom’s output will reach 8.12 million bpd starting February, affirming that this will support oil market and industry.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Related News

Saudi Arabia to cut oil output by additional 1 mln bpd in February, March

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request