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Reuters
Oil jumps more than 5% after news of voluntary Saudi cuts
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Oil prices jumped more than five percent during trading today, Tuesday, after Saudi Arabia announced voluntary cuts in its oil production in February and March.
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Brent crude futures, the world record, rose 5.34 percent to $ 53.82 a barrel by 19.20 GMT.
US West Texas Intermediate crude futures rose 5.3 percent to $ 50.13 a barrel.
Two OPEC + sources said that Saudi Arabia would cut its crude production by more than 400,000 barrels per day in the next two months, in addition to its current cuts.
Source: Agencies
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