Oil traders on edge as output cut hangs in balance

article author: 

Frank Kane

Mon, 2020-04-06 04:18

DUBAI: Oil traders were on edge on Sunday night waiting for markets to open on Monday amid mixed signals about a cut in production to balance an over-supply of crude.

The price of Brent crude, the Middle East benchmark, jumped 20 percent to more than $34 per barrel on Friday on suggestions that Saudi Arabia, Russia and the US were on the verge of agreeing a massive output cut.

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Business & Economy

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oil prices

Oil market

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