Wednesday, July 22, 2026
Oil up nearly 5% on possible extension of Saudi output cuts- oil and gas 360

Oil up nearly 5% on possible extension of Saudi output cuts

Reuters BENGALURU – Oil prices rose nearly 5% on Thursday on a possible extension of voluntary output cuts by Saudi Arabia into April, as OPEC ministers and their allies continued to deliberate about the future of supply cuts. Brent crude futures were up $3.04, or 4.7%, at $67.11 a barrel by 10:57 a.m. ET (1557 GMT), while U.S. West Texas