Oil Extends Gains As Saudi Arabia Pledges Export Curbs

Oil prices extended gains on Tuesday after Saudi Arabia pledged to curb exports from next month and OPEC called on several members to boost compliance with production cuts to help rein in global oversupply and tackle flagging prices. Gains were also supported by a warning from Halliburton’s executive chairman that the growth in North American rig count was “showing signs of plateauing,” clouding a boom in US shale oil production. London Brent crude for September delivery was up 30 cents, or 0.6 percent, at $48.90 a barrel by 0206 GMT after settling up 1.1 percent on Monday. US West Texas Intermediate (WTI) crude futures were up 31 cents, or 0.7 percent, at $46.65. For More Information About Commodity Trading Tips Please Visit : www.paceresearchindia.com and Call : 8817774774