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Oil prices rise on reports Saudi Arabia has said it’ll do ‘whatever necessary’ to support oil

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Oil futures headed sharply higher on Wednesday, finding support after Saudi Arabia’s energy minister reportedly said that the kingdom will do whatever is necessary to support the oil market.

The comments from Saudi Energy Minister Prince Abdulaziz at an OPEC+ seminar was reported by a number of news agencies and follows the Saudi’s announcement Monday that it would extend its voluntary production cut by another month, through August.


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