Oil Prices Jump As Russia And Saudi Arabia Extend Cuts

Oil prices jumped dramatically on Tuesday morning as Saudi Arabia announced it would extend its production cuts until the end of the year and Russia announced it would extend its export cuts of 300,000 bpd for the same period.Chart of the Week- Russia extended its voluntary decision to curb crude exports by 300,000 b/d until December 2023, acting in concert with Saudi Arabia, with the alleged aim of maintaining stability and balance in the oil markets.- In the meantime, Russian seaborne crude and product exports fell to their lowest since September…