May 20, 2019
Source: Reuters

Oil prices climb over signs of continued supply cuts from OPEC

Signs of OPEC maintaining supply cuts sent oil prices soaring in the international market on Monday. Benchmark Brent crude rose 1.3%, to $73.17 a barrel. US West Texas Intermediate (WTI) crude was traded 1.3% higher than their last close, at $63.58 a barrel. OPEC de-facto leader Saudi Arabia yesterday said that the cartel members and allies were on a consensus to reduce crude inventories “gently”.

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