Saudi Arabia cuts oil prices, triggers general price reduction

Oil prices have dropped due to an increase in production by OPEC and price cuts on exports from Saudi Arabia, ofsetting concerns of escalation in the Middle East. 
Photo: Bloomberg
Photo: Bloomberg
MarketWire

A barrel of the European reference oil, Brent, costs USD 77.82 on Monday morning, compared to USD 78.59 on Friday afternoon. At the same time, US WTI oil is trading at USD 72.85 compared to USD 73.54 on Friday afternoon

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