Oil prices increased as Saudi Arabia and Russia confirmed their commitment to continue voluntary supply cuts until the end of the year. Brent crude rose 1.21% to $85.92 a barrel, while U.S. West Texas Intermediate crude increased by 1.33%. However, the gains may be limited due to a decrease in Chinese refinery throughput and disappointing October factory data. Analysts predict that the oil market will be in surplus in the first quarter of next year.
- News Source Indiatimes (Click to view full news): CLICK HERE
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