EnergyWatch

Russia and Saudi Arabia are pushing up the oil price

The Saudi willingness to limit oil production more than previously anticipated, coupled with Russian acquiescence to a reduction, has boosted the oil price.

Photo: /ritzaui/AP/Hasan Jamal

Commodity prices saw price rises on oil Monday morning, where OPEC's attempts to reduce production look set to succeed.

Over the weekend, Saudi Arabia has indicated a willingness to cut yet deeper into production than previously thought. Meanwhile, Russia has agreed to reduce production in order to strengthen the collective effort to reign in surplus production.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Ukrainian utility hit by cyberattack

Russian hackers have allegedly carried out a cyberattack against the largest privately owned utility in Ukraine, DTEK Group. The perpetrators’ goal was to destabilize, the company reports.

Further reading

Related articles

Latest News

See all jobs