Oil hits 11-month high just below USD57 as Saudi cut supports

MOSCOW (MRC) -- Oil hit an 11-month high just below USD57 a barrel on Tuesday as tighter supply and expectations of a drop in U.S. inventories offset concerns over rising coronavirus cases globally, said Reuters.Saudi Arabia plans to cut output by an extra 1 million barrels per day (bpd) in February and March to stop inventories from building up. The latest U.S. supply reports are expect

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