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Barchart
Barchart
Rich Asplund

SHOCKING: Crude oil prices see support as saudi arabia expected to extend its production cut - What They Never Told You

Oil Saudi Arabia United States Abdulaziz bin Salman Economy EIA OPEC

August WTI crude oil (CLQ23) is up +0.64 (+0.92%), and Aug RBOB gasoline (RBQ23) is up +0.0116 (+0.46%).

Crude oil prices are seeing support from today's rally in stocks, which supports the outlook for the economy and energy demand.  Crude oil is getting a boost today from the -0.4% sell-off in the dollar index.  Crude oil is also seeing some continued support from Wednesday's unexpected -9.6 million bbl decline in EIA weekly crude oil inventories.

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