Oil futures settled with a modest gain on Monday, after Saudi Arabia over the weekend agreed to deliver an additional 1 million–barrel daily production cut next month as the Organization of the Petroleum Exporting Countries and its allies moved to extend existing production targets.
Price action
Market drivers
Saudi Arabia on Sunday said it would cut oil output by 1 million barrels a day in July, and that the reduction could be extended if needed. The announcement came as OPEC+ agreed to extend current production…
Read the full article here
