Oil Prices Tick Upwards After Saudi Arabia, Russia Stick to Voluntary Output Cuts

Sudan Events – Sumaya Sayed

Oil prices edged up on Monday as top exporters Saudi Arabia and Russia said they would stick to extra voluntary oil output cuts until the end of the year, keeping supply tight, while investors watched out for tougher US sanctions on Iranian oil.

Brent crude futures rose 35 cents, or 0.41 percent, to $84.89 a barrel by 0400 GMT while US West Texas Intermediate crude was at $80.92 a barrel, up 41 cents, or 0.51 percent.