TELETRADER News
12/5/2023, 4:12 PM (Source: TeleTrader)
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Oil up 1% as Russia sets ground for more output cuts

Crude oil prices for front-month deliveries climbed on Tuesday after Moscow reaffirmed its commitment to previously announced production cuts within OPEC+, and signaled that it is open to further expand output reductions in the first quarter of 2024.

West Texas Intermediate (WTI) for January contracts rose 1.26% to sell at $73.97 a barrel at 10:01 am ET. Brent for February settlements added 1.08% to trade at $78.91 per barrel.

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