Oil jumps as Saudi, Russia take lead and extend supply cuts to March 2018
Oil prices jumped 2 percent on Monday after the energy ministers of the world’s two biggest producers Saudi Arabia and Russia jointly said that a crude production cut would be extended from the middle of this year until March 2018. Brent crude was at $51.88 per barrel at 0655 GMT, up $1.04, or 2.1 percent, from its last close at a level last seen in early May. U.S. West Texas Intermediate (WTI) crude was at $48.85 per barrel, up $1.01, or 2.1 percent.
Source:: https://finance.yahoo.com/news/oil-jumps-saudis-russia-supply-034559581.html
