Oil rose in price based on data on the decline in production by Saudi Arabia

On Monday, oil showed strong growth in the price based on reports of a reduction in production in Saudi Arabia. According to the Bloomberg agency, Saudi Arabia in July reduced oil production to 10 million 300 thousand barrels per day from 10 million 490 thousand barrels per day a month earlier, which contradicts the expectations of an increase in production of this country, according to the agreement on increasing production. The market is also supported by geopolitical risks associated with the introduction of US sanctions against Iran. October futures for Brent crude by 14:47 Moscow time went up by 69 cents to 73 dollars 90 cents a barrel. The price of September futures for WTI rose by 88 cents to 69 dollars 37 cents per barrel.

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