Oil Updates – crude nudges higher after OPEC+ extends output cuts

SINGAPORE: Oil prices nudged higher on Monday after OPEC+ members agreed to extend voluntary oil output cuts to the end of the second quarter, largely in line with market expectations, while Russia pledged to cut production and exports, according to Reuters.

Brent futures was 14 cents, or 0.2 percent higher, at $83.69 a barrel at 7:15 a.m. Saudi time, while the US West Texas Intermediate inched up 2 cents to $79.99 a barrel.

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