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Oil fails to hold gains scored after Saudi, Russia announced supply cuts

Por: MarketWatch Business July 04, 2023

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Market drivers Crude futures popped higher after Saudi Arabia’s energy ministry said the voluntary cut of 1 million barrels a day that took effect this month would be extended through August, keeping the nation’s output at 9 million barrels a day. Also Monday, Russian Deputy Prime Minister Alexander Novak said the country would curb exports by 500,000 barrels a day in July, according to news reports, “as part of efforts to ensure oil... + full article



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