Drone strikes on key Saudi Arabian oil facilities push crude oil prices over $70 per barrel
3 years, 10 months ago

Drone strikes on key Saudi Arabian oil facilities push crude oil prices over $70 per barrel

India TV News  

Oil prices rose Monday as Saudi Arabian oil facilities were targeted by drone strikes just days after the largest crude exporting nations in the world said they would not increase output. The attacks in Saudi Arabia follow a devastating winter freeze in Texas and other parts of the southern United States last month knocked out production of roughly 4 million barrels per day of U.S. oil, pushing prices above $60 a barrel for the first time in more than a year. The Ministry of Energy denounced the strike as “an act of sabotage” targeting not only Saudi Arabia “but also the security and stability of energy supplies to the world.” When key oil facilities in Saudi Arabia were attacked in 2019, global energy prices soared 14% the next day. In January, after Saudi Arabia announced it would cut production by 1 million barrels per day on top of cuts the kingdom already made through its agreement with the OPEC cartel, prices for U.S. benchmark crude pushed above $50 a barrel.

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History of this topic

Saudi minister warns of $50 oil as OPEC+ members flout production curbs
3 months, 1 week ago

Saudi minister warns of $50 oil as OPEC+ members flout production curbs

Live Mint  

The Saudi oil minister has said that prices could drop to as low as $50 per barrel if so-called cheaters within OPEC+ don’t stick to agreed-upon production limits, according to delegates in the cartel. But geopolitical tensions have persisted for months without meaningful effect on oil prices, and the declines have been frustrating for Saudi officials in part because other …

Saudi Arabia's Aramco reports lower half-year profits as economic worries dampen energy prices
5 months ago

Saudi Arabia's Aramco reports lower half-year profits as economic worries dampen energy prices

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi oil giant Aramco reported …

Oil producers led by Saudis face a decision on whether to extend production cuts as oil prices lag
7 months, 1 week ago

Oil producers led by Saudis face a decision on whether to extend production cuts as oil prices lag

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi Arabia and allied oil …

Oil rises on Saudi Arabia’s decision to hike prices, brent crude at $83.39/bbl
8 months ago

Oil rises on Saudi Arabia’s decision to hike prices, brent crude at $83.39/bbl

Live Mint  

Oil futures saw an increase on Monday following Saudi Arabia's decision to raise June crude prices for most regions. “Crude Oil prices are seen trading positive today after Saudi Arabia raised its official oil selling price for most regions, and on fading hopes of a ceasefire in the Israel-Hamas war, however, price gains look limited as supply from the middle-east …

Saudi Arabia Needs Oil Price Near $100, IMF Says
8 months, 3 weeks ago

Saudi Arabia Needs Oil Price Near $100, IMF Says

Hindustan Times  

Saudi Arabia will need a higher oil price than previously thought this year as the OPEC leader spearheads the group’s production cuts, according to the International Monetary Fund. Saudi Arabia Needs Oil Price Near $100, IMF Says Riyadh will require an average oil price of $96.20 a barrel to balance its budget, assuming it holds crude output steady near 9.3 …

Oil rises 1%, heads for weekly gain as Middle East conflict rages
11 months ago

Oil rises 1%, heads for weekly gain as Middle East conflict rages

Live Mint  

Oil prices rose on Friday and were on track for gains of almost 7% week-on-week, amid persistent tensions in the Middle East after Israel rejected a ceasefire offer from Hamas. Israeli forces continued deadly air strikes on Gaza on Friday, after the bombing of Gaza's southern border city of Rafah on Thursday helped send oil prices up by around 3% …

Saudi Arabia likely to extend additional oil supply cuts beyond December 2023
1 year, 1 month ago

Saudi Arabia likely to extend additional oil supply cuts beyond December 2023

Live Mint  

World's top exporter Saudi Arabia is expected to extend its additional voluntary supply cuts to at least the first quarter, if not the first half of 2024, Amrita Sen, co-founder of consultancy Energy Aspects said on Wednesday. Current oil prices are not low enough to push the Organization of the Petroleum Exporting Countries and their allies, known as OPEC, to …

Oil ticks higher on optimism ahead of Biden’s Israel trip; Brent at $90/bbl
1 year, 2 months ago

Oil ticks higher on optimism ahead of Biden’s Israel trip; Brent at $90/bbl

Live Mint  

Oil prices edged higher on Tuesday, October 17, ahead of a trip by US President Joe Biden to the Middle East that is likely to involve balancing support for Israel with trying to prevent any regional escalation of its war with Hamas. Back home, on the Multi Commodity Exchange, crude oil futures due for a October 19 expiry, was last …

Oil prices jump more than $4 as Middle East violence rattles markets
1 year, 3 months ago

Oil prices jump more than $4 as Middle East violence rattles markets

The Hindu  

Oil prices jumped more than $4 a barrel in early Asian trade on Monday, as dramatic military clashes between Israeli and Hamas forces over the weekend deepened political uncertainty across the Middle East. The surge in oil prices reversed last week's downward trend - the largest weekly decline since March - in which Brent fell about 11% and WTI retreated …

Saudi Arabia defends oil supply cuts as prices hit fresh high
1 year, 3 months ago

Saudi Arabia defends oil supply cuts as prices hit fresh high

The Telegraph  

Opec’s leader claims its massive oil production cuts are no different to the actions of central banks, as oil prices hit a fresh 10-month high. Saudi Arabia’s energy minister Prince Abdulaziz bin Salman on Monday defended Opec+ cuts to global supply as the price of Brent crude approached $95 per barrel. Oil prices have surged by more than 30pc since …

Oil sizzles at 10-month high on Saudi, Russia output cuts; Brent over $91/bbl
1 year, 3 months ago

Oil sizzles at 10-month high on Saudi, Russia output cuts; Brent over $91/bbl

Live Mint  

Oil prices rose about 1 per cent on Tuesday, September 12, boosted by a tighter supply outlook, after oil producers Saudi Arabia and Russia extended their voluntary oil supply cuts till the end of the year. Back home, on the Multi Commodity Exchange, crude oil futures due for a September 19 expiry, were last trading higher by 1.73 per cent …

Oil prices spike as Saudi Arabia, Russia extend 1.3 million barrel a day oil cut through December
1 year, 4 months ago

Oil prices spike as Saudi Arabia, Russia extend 1.3 million barrel a day oil cut through December

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia and Russia agreed Tuesday to extend their voluntary oil production cuts through the end of this year, trimming 1.3 million barrels of crude out of the global market and boosting energy prices. Bob McNally, the founder and president of the Washington-based Rapidan Energy Group and a former White House energy adviser, said Saudi …

Saudi to likely roll over output cut into Oct: What lies ahead for oil prices?
1 year, 4 months ago

Saudi to likely roll over output cut into Oct: What lies ahead for oil prices?

Live Mint  

Saudi Arabia will likely roll over the voluntary oil cut of 1 million barrels per day for a third consecutive month into October amid uncertainty about supplies and as the kingdom targets pulling down global inventories further, according to analysts quoted in a report by news agency Reuters. Brent oil prices in July were up 14 per cent on the …

Good news! Petrol, diesel prices to come down soon | Here is WHY
1 year, 6 months ago

Good news! Petrol, diesel prices to come down soon | Here is WHY

India TV News  

Petrol and diesel price cut: Consumers can get good news very soon regarding the petrol and diesel price cut. Depend on price of crude oil Oil companies' valuations appear reasonable but a sharp jump in crude prices during elections could pose risk to OMCs marketing earnings, the report said. However, OMCs marketing segment earnings could come under risk if Brent …

Saudi Arabia is slashing oil supply. It could mean higher gas prices for US drivers
1 year, 7 months ago

Saudi Arabia is slashing oil supply. It could mean higher gas prices for US drivers

Associated Press  

FRANKFURT, Germany — Saudi Arabia will reduce how much oil it sends to the global economy, taking a unilateral step to prop up the sagging price of crude after two previous cuts to supply by major producing countries in the OPEC+ alliance failed to push oil higher. The Saudi cut of 1 million barrels per day, to start in July, …

Oil Prices Rise 1 Percent on Saudi Plan to Deepen Output Cuts from July
1 year, 7 months ago

Oil Prices Rise 1 Percent on Saudi Plan to Deepen Output Cuts from July

News 18  

Oil prices rose by more than 1% on Monday after the world’s top exporter Saudi Arabia pledged to cut production by a further 1 million barrels per day from July to counter macroeconomic headwinds that have depressed markets. Both contracts extended gains of more than 2% on Friday after the Saudi energy ministry said the kingdom’s output would drop to …

Saudi Arabia cuts oil output by 1 million barrels per day to boost sagging prices
1 year, 7 months ago

Saudi Arabia cuts oil output by 1 million barrels per day to boost sagging prices

The Hindu  

Saudi Arabia said on June 4 that it will reduce how much oil it sends to the global economy, taking a unilateral step to support the sagging cost of crude after two earlier production cuts by members of the OPEC+ alliance of major oil-producing countries failed to push prices higher. “This is a grand day for us, because the quality …

Saudi Arabia cuts oil output by 1 million barrels per day to boost sagging prices
1 year, 7 months ago

Saudi Arabia cuts oil output by 1 million barrels per day to boost sagging prices

LA Times  

Saudi Arabia said Sunday that it will reduce how much oil it sends to the global economy, taking a unilateral step to support the sagging cost of crude after two earlier production cuts by members of the OPEC+ alliance of major oil-producing countries failed to push prices higher. “This is a grand day for us, because the quality of the …

Oil producers’ cuts could boost gasoline prices, help Russia
1 year, 9 months ago

Oil producers’ cuts could boost gasoline prices, help Russia

Associated Press  

FRANKFURT, Germany — Major oil-producing countries led by Saudi Arabia said they’re cutting supplies of crude — again. The decision by oil producers, many of them in the OPEC oil cartel, to cut production by more than 1 million barrels a day comes after prices for international benchmark crude slumped amid a slowing global economy that needs less fuel for …

Oil producers' cuts could boost gasoline prices, help Russia
1 year, 9 months ago

Oil producers' cuts could boost gasoline prices, help Russia

Firstpost  

Russia is joining in by extending its own cuts for the rest of the year. In theory, less oil flowing to refineries should mean higher gasoline prices for drivers and could boost the inflation hitting the US and Europe Major oil-producing countries led by Saudi Arabia said they’re cutting supplies of crude — again. In theory, less oil flowing to …

Oil prices surge as Saudi Arabia leads shock production cuts
1 year, 9 months ago

Oil prices surge as Saudi Arabia leads shock production cuts

The Independent  

✕ Close Related video For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Oil …

Saudis, other oil giants announce surprise production cuts
1 year, 9 months ago

Saudis, other oil giants announce surprise production cuts

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia and other major oil producers on Sunday announced surprise cuts totaling up to 1.15 million barrels per day from May until the end of the year, a move that could raise prices worldwide. Even though the production cut is only about 1% of the roughly 100 million barrels of oil the world uses …

Oil prices surge as Saudis slash production
1 year, 9 months ago

Oil prices surge as Saudis slash production

The Telegraph  

Oil prices surged almost 8pc as markets opened in Asia on Monday morning after a surprise production cut by Saudi-led oil producers. The Opec cartel of oil-exporting countries said on Sunday they would slash output by more than 1m barrels a day, amid a scramble to drive up crude prices in the face of the stuttering global economy. Dan Pickering, …

Saudi Arabia to cut oil production by 5,00,000 barrels per day from WHEN | KNOW DETAILS
1 year, 9 months ago

Saudi Arabia to cut oil production by 5,00,000 barrels per day from WHEN | KNOW DETAILS

India TV News  

Saudi Arabia oil production : Saudi Arabia today said that it will cut oil production by 5,00,000 barrels per day from May until the end of 2023. Saudi Energy Ministry on oil production : The ministry described the move as a precautionary measure aimed at stabilising the oil market. The cuts represent less than 5 per cent of Saudi Arabia's …

Why Saudi Arabia defied the US over OPEC oil supply cut
2 years, 3 months ago

Why Saudi Arabia defied the US over OPEC oil supply cut

CNN  

Editor’s Note: A version of this story first appeared in CNN’s Meanwhile in the Middle East newsletter, a three-times-a-week look inside the region’s biggest stories. Abu Dhabi CNN — Saudi Arabia’s energy minister once famously said that the kingdom “derives pleasure from keeping everyone on their toes.” That is likely how White House officials and Democratic politicians were left feeling …

Saudi oil chief says energy security imperiled by attacks
2 years, 9 months ago

Saudi oil chief says energy security imperiled by attacks

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia’s oil chief said markets are going through a “jittery period” and reiterated Tuesday that the kingdom’s ability to ensure energy security is no longer guaranteed. Prince Abdulaziz said Saudi Arabia and the United Arab Emirates could once rely on a collective effort to ensure their energy security. The prince spoke at the World …

Satellite photos show Yemen rebels hit Saudi oil site again
2 years, 9 months ago

Satellite photos show Yemen rebels hit Saudi oil site again

Associated Press  

DUBAI, United Arab Emirates — Yemen’s Iran-backed Houthi rebels this week struck the same oil storage tank in the Saudi Arabian city of Jiddah they had previously hit a year and a half ago, satellite photos showed Tuesday. It also comes as Saudi Arabia issued an unusually stark warning that it is unable to guarantee its oil production won’t be …

Saudi Arabia says it’s not responsible for high oil prices
2 years, 9 months ago

Saudi Arabia says it’s not responsible for high oil prices

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia said Monday that it “won’t bear any responsibility” for a shortage in global oil supplies after a fierce barrage of attacks by Yemen’s Houthi rebels affected production in the kingdom, the world’s largest oil exporter. The salvo of rebel attacks on Saudi Arabia’s oil facilities marked a serious escalation in the war, which …

Yemen rebels launch barrage of strikes on Saudi sites
2 years, 9 months ago

Yemen rebels launch barrage of strikes on Saudi sites

Associated Press  

DUBAI, United Arab Emirates — Yemen’s Houthi rebels unleashed one of their most intense barrages of drone and missile strikes on Saudi Arabia’s critical energy facilities on Sunday, sparking a fire at one site and temporarily cutting oil production at another. The attacks did not cause casualties, the Saudi-led military coalition fighting in Yemen said, but struck sites belonging to …

Saudi Arabia says Yemen rebels target its energy facilities
2 years, 9 months ago

Saudi Arabia says Yemen rebels target its energy facilities

The Hindu  

Yemen’s Houthi rebels unleashed a barrage of drone and missile strikes on Saudi Arabia early Sunday that targeted a liquified natural gas plant, water desalination plant, oil facility and power station, Saudi state-run media reported. The attacks also came as Saudi Arabia's state-backed oil giant Aramco announced that its profits surged 124% in 2021 to $110 billion, a big jump …

Houthis launch multiple strikes on Saudi sites
2 years, 9 months ago

Houthis launch multiple strikes on Saudi sites

Al Jazeera  

The Saudi-led coalition says the barrage of drone and missile attacks by the Yemeni rebel group did not cause any casualties. Yemen’s Houthi rebels have unleashed a barrage of drone and missile attacks on Saudi Arabia, targeting a liquefied natural gas plant, water desalination plant, oil facility and power station, Saudi state-run media reported. Later on Sunday, the military coalition …

Saudi oil refinery attacked by drone, sparking small fire
2 years, 9 months ago

Saudi oil refinery attacked by drone, sparking small fire

India TV News  

Highlights An oil refinery in Saudi Arabia’s capital Riyadh was attacked by drone It caused a small fire that did not cause injuries or affect supplies, said the energy ministry The statement did not specify where the drone strike was launched from An oil refinery in Saudi Arabia’s capital, Riyadh, was attacked by drone, causing a small fire that did …

Saudi Arabia keeps lid on oil output as US gas prices rise
2 years, 10 months ago

Saudi Arabia keeps lid on oil output as US gas prices rise

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia is signaling it isn’t willing to pump more oil and won’t push for changes to an agreement with Russia and other producers that has kept a lid on oil production levels. Asked by reporters in Washington whether the U.S. officials were also urging Saudi Arabia to pump more crude to alleviate high oil …

Brent oil prices hit highest level in more than seven years as fears around COVID-19 ebb
2 years, 11 months ago

Brent oil prices hit highest level in more than seven years as fears around COVID-19 ebb

Firstpost  

The latest bump comes after Yemen’s Houthi rebels claimed attacks in Abu Dhabi that triggered a fuel tank blast, killing three people Monday Hong Kong, China: Brent crude prices hit their highest level in more than seven years on Tuesday on growing demand optimism, easing concerns about the Omicron COVID variant and geopolitical tensions. The contract hit $86.84 in Asian …

Saudi Aramco closes near $2T valuation as oil prices rally
3 years, 3 months ago

Saudi Aramco closes near $2T valuation as oil prices rally

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia’s oil company Aramco closed on Wednesday just shy of a $2 trillion valuation the kingdom’s crown prince has long sought, buoyed by high oil prices and increased demand for energy as economies recover from last year’s pandemic lockdowns. Aramco, which produces Saudi Arabia’s oil and gas, is closely watched by energy traders and …

Saudi and UAE reach compromise in OPEC+ standoff
3 years, 5 months ago

Saudi and UAE reach compromise in OPEC+ standoff

Al Jazeera  

Talks between OPEC and its allies to boost oil production and cool prices were abandoned earlier this month over a dispute that pivoted over how much crude the UAE would be able to pump under a new deal. Saudi Arabia and the United Arab Emirates have reached a compromise deal in a standoff over OPEC+ crude output quotas, according to …

OPEC+ breakdown: What to watch as the oil crisis evolves
3 years, 6 months ago

OPEC+ breakdown: What to watch as the oil crisis evolves

Live Mint  

OPEC+ infighting has deprived the oil market of extra supply and sent crude surging to a six-year high in New York. It’s too early to tell whether the breakdown of the cartel’s meeting on Monday could escalate into a conflict between Saudi Arabia and the United Arab Emirates as bitter and destructive as last year’s price war. The increase in …

Houthis launch attacks on Saudi oil facilities, military sites
3 years, 9 months ago

Houthis launch attacks on Saudi oil facilities, military sites

Al Jazeera  

Saudi Arabia says it plans to take action after Yemen’s Houthis launch drone and missile attacks on sixth anniversary of Saudi intervention. Yemen’s Houthi rebels say they have launched drone and ballistic missile attacks on Saudi Arabia, targeting oil facilities owned by the state-run Saudi Aramco company and military sites, coinciding with the sixth anniversary of the kingdom’s military intervention …

Saudi Arabia: Drones attack Riyadh oil facility, no damage
3 years, 9 months ago

Saudi Arabia: Drones attack Riyadh oil facility, no damage

Associated Press  

DUBAI, United Arab Emirates — A drone attack struck an oil installation in Saudi Arabia’s capital of Riyadh on Friday, the Saudi state-run news agency reported, igniting a blaze at the facility deep in the kingdom’s territory. Most recently, drones struck Ras Tanura, the country’s largest crude oil refinery with capacity of 550,000 barrels a day, raising concerns about the …

Fire at Saudi Arabia oil facility after drone attack
3 years, 9 months ago

Fire at Saudi Arabia oil facility after drone attack

Al Jazeera  

Saudi Arabia condemns attack, saying it targeted ‘the security and stability of the world’s energy supplies’. Saudi Arabia said drones struck an oil facility in the capital of Riyadh on Friday, igniting a fire at the installation. Saudi Arabia condemned the attack saying the assault targeted “the security and stability of the world’s energy supplies”. “We condemn the Houthis’ attempts …

Oil slips after hitting pandemic high above $70 after Saudi attack
3 years, 10 months ago

Oil slips after hitting pandemic high above $70 after Saudi attack

Live Mint  

Oil prices slipped on Monday after earlier climbing above $70 a barrel for the first time since the COVID-19 pandemic began after attacks on Saudi Arabian oil facilities. Yemen's Houthi forces fired drones and missiles at the heart of the Saudi oil industry on Sunday, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports. US West Texas …

Brent crude oil price jumps past $70 for first time since pandemic began after Saudi facilities attacked
3 years, 10 months ago

Brent crude oil price jumps past $70 for first time since pandemic began after Saudi facilities attacked

India Today  

Brent crude futures surged above $70 a barrel on Monday for the first time since the Covid-19 pandemic began, while US crude touched its highest in more than two years, following reports of attacks on Saudi Arabian facilities. Brent crude futures for May hit $71.38 a barrel in early Asian trade, the highest since January 8, 2020, and were at …

Oil prices rise to near 11-month highs after Saudi blast reports
3 years, 11 months ago

Oil prices rise to near 11-month highs after Saudi blast reports

Live Mint  

Oil prices ticked up on Tuesday alongside rising European shares and amid reports of a blast in Saudi Arabia, trading near 11-month highs. On the supply side, the Organization of the Petroleum Exporting Countries and its allies' compliance with pledged oil output curbs is averaging 85% in January, tanker tracker Petro-Logistics said on Monday. "It appears that market players are …

Oil hits 11-month highs on Saudi output cut pledge, equities rally
4 years ago

Oil hits 11-month highs on Saudi output cut pledge, equities rally

Hindustan Times  

Oil prices on Friday hit 11-month highs and were on track for a strong weekly gain as a rally in global equities fed risk appetite and stoked bullish sentiment following Saudi Arabia’s pledge to cut output. UBS raised its forecast for Brent to $60 per barrel by mid-year, following Saudi Arabia’s unilateral cut and expectations of a second quarter demand …

Saudis cut oil prices for Asia as virus clouds energy market
4 years, 2 months ago

Saudis cut oil prices for Asia as virus clouds energy market

Live Mint  

Saudi Arabia cut most oil pricing for its customers in Asia and the U.S. as a resurgence in the coronavirus clouds the outlook for energy markets. State producer Saudi Aramco decreased December pricing for shipments of Arab Light crude to Asia, its largest regional market, by 10 cents a barrel to a 50-cent discount to the benchmark. Oil dropped around …

Oil prices tumble $1 per barrel after Saudi price cuts
4 years, 4 months ago

Oil prices tumble $1 per barrel after Saudi price cuts

Deccan Chronicle  

SINGAPORE: Oil prices dropped more than $1 a barrel on Monday, hitting their lowest since July, after Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months as optimism about demand recovery cooled amid the coronavirus pandemic. The world remained awash with crude and fuel supplies despite OPEC+ supply cuts and government efforts to stimulate …

Oil drops more than $1 after Saudi Arabia price cuts, demand optimism fades
4 years, 4 months ago

Oil drops more than $1 after Saudi Arabia price cuts, demand optimism fades

Live Mint  

Oil prices dropped more than $1 a barrel on Monday, hitting their lowest since July, after Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months as optimism about demand recovery cooled amid the coronavirus pandemic. The world remained awash with crude and fuel supplies despite OPEC+ supply cuts and government efforts to stimulate the …

Saudi Aramco Profits Slump 73% on Low Oil Price as Covid-19 Undercuts Global Demand
4 years, 5 months ago

Saudi Aramco Profits Slump 73% on Low Oil Price as Covid-19 Undercuts Global Demand

News 18  

Energy giant Saudi Aramco said Sunday its net profit for the second quarter plunged a massive 73 percent due to sharply lower oil prices as the coronavirus crisis undercuts global demand. Aramco's net profit for the first half of the year also dived, by 50 percent to $23.2 billion, compared to $46.9 billion over the same period last year. Following …

Oil prices rise after Saudi Arabia pledge to deepen production cuts in June; Brent crude up 1.3%
4 years, 7 months ago

Oil prices rise after Saudi Arabia pledge to deepen production cuts in June; Brent crude up 1.3%

Firstpost  

Oil prices rose on Tuesday, boosted by an unexpected commitment from Saudi Arabia to deepen production cuts in June to help drain a supply glut built up during the coronavirus crisis London: Oil prices rose on Tuesday, boosted by an unexpected commitment from Saudi Arabia to deepen production cuts in June to help drain a supply glut built up during …

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