LIVE CRUDE OIL UPDATE ::
Oil prices rose by about one percent on Monday after top exporter Saudi Arabia announced a cut in supply for December, seen as a measure to halt a market slump that had seen crude decline by 20 percent since early October.
International benchmark Brent crude oil futures (LCOc1) were at $71.11 per barrel at 0051 GMT, up 93 cents, or 1.3 percent from their last close.
U.S. West Texas Intermediate (WTI) crude oil futures were at $60.73 per barrel, up 54 cents, or 0.9 percent from their last settlement.
Saudi Arabia plans to reduce oil supply to world markets by 0.5 million barrels per day in December, its energy minister said on Sunday, as the OPEC power faces uncertain prospects in its attempts to persuade other producers to agree a coordinated output cut.
REGARDS,
TECHNICAL DEPARTMENT
TRADE MAX INDIA
CALL@8218995526/8218997961)