The Saudis are extending the production cut, oil prices are rising

By RockedBuzz 1 Min Read

As a result of weak Chinese demand and fears of a recession, prices have hovered around $75 so far this year, and in light of this, the Saudis’ current move was not a surprise.

Despite this, the price per barrel of the global benchmark Brent crude oil jumped 2 percent.


The price of WTI per barrel rose by about 1.6 percent.


Cover image: Getty Images

Share This Article
Leave a comment