Oil climbs 5% to exceed $ 50 for first time since February as Saudi Arabia announces voluntary cuts – NBC Southern California

Oil climbs 5% to exceed $ 50 for first time since February as Saudi Arabia announces voluntary cuts – NBC Southern California

Futures on U.S. benchmark West Texas Intermediate crude surpassed $ 50 on Tuesday for the first time since February, boosted by Saudi Arabia’s surprise announcement of a 1million barrel production cut by day from February to March. The rise marks a steady return in oil prices after the coronavirus pandemic and subsequent loss of demand […]
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