OIL PRICES RISE AS SAUDI ARABIA CUT PRODUCTION TO AVERT OVERSUPPLY

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U.S. President Donald Trump is aiming to cut Iran’s oil exports to zero by November, a policy that threatens to leave the world short of oil and boost prices at the pump if OPEC and Russia cannot fill the gap.

The ongoing trade disputes between the U.S. and China, one of the biggest oil consuming nations, could also potentially lower economic growth and slow down demand.