Oil approaches 11-month high
Saudi Arabia has said it will cut output by an extra one-million bpd in February and March to stop inventories from building up
12 January 2021 - 12:02
London — Oil rose above $56 a barrel on Tuesday and stayed close to an 11-month high, as tighter supply and expectations of a drop in US inventories offset concerns over climbing coronavirus cases globally.
Saudi Arabia has said it will cut output by an extra one-million barrels per day (bpd) in February and March to stop inventories from building up. The latest US oil supply reports are expected to show crude stocks fell for a fifth straight week...
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