2023-06-04 23:23:00
© Archyde.com. Two pumps belonging to a French oil company operate in a field outside Sodron, France, on February 6, 2023. Photograph: Pascal Rossignol/Archyde.com.
SINGAPORE (Archyde.com) – It jumped more than $2 a barrel in early Asian trade, hours following Saudi Arabia, the world’s largest oil exporter, pledged to cut production by another million barrels from July.
Crude futures rose 2.29, or 3 percent, to record $78.42 a barrel at 2219 GMT, following earlier hitting a session high of $78.73 a barrel.
US West Texas Intermediate crude rose $2.27, or 3.2 percent, to record $74.01 a barrel, following touching the highest level during the day at $75.06 a barrel.
(Prepared by Hassan Ammar for the Arabic Bulletin)
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