OPEC+ ministers dismissed the recent drop in oil prices following their decision to gradually increase crude production starting in October. They believe the market will eventually see their strategy as the right move. On his part, Saudi Energy Minister Prince Abdulaziz bin Salman announced that Sa»»»

RIYADH: Oil prices surged on Monday, posting the biggest daily rise in nearly a year, after a surprise announcement by the Organization of Petroleum Exporting Countries and its allies, known as OPEC+, to cut more production jolted markets. Brent crude was trading at $84.39 a barrel at 12.10 p.m. Sa»»»

Saudi Arabia’s April crude oil exports fell to their lowest level since June 2020, official data showed. Crude exports from the world’s top exporter slipped to 5.408 million barrels per day (bpd) from 5.427 million bpd in March, while crude output edged lower to 8.134 million bpd in April from 8.13»»»