As production cuts fail to raise prices further, Saudi Arabia looks to influence U.S. data to strengthen commodity prices
Crude oil prices hit a five-week low Wednesday as OPEC production rose and U.S. inventories showed smaller than expected draws. OPEC has been trying to bolster oil prices with a production cut deal, but increased output from Libya and Nigeria, both of which are exempt from the deal, has continued to put downward pressure on oil prices. With production cuts failing to push prices higher, OPEC’s de facto leader, Saudi Arabia,...


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