After rallying on news that Saudi Arabia would cut an additional 1 million barrels per day, oil prices were already falling back by Tuesday morning.| OilPrice.com
Asian buyers are looking to buy spot oil cargoes from Russia, Africa, Brazil, or the United States after Saudi Arabia raised its official selling prices.| OilPrice.com
Saudi Arabia’s decision to cut oil production by 1 million barrels per day has failed to cause a sustained rally in oil prices, although the IEA has warned higher prices are coming.| OilPrice.com