Oil Higher After Saudi Arabia Cuts Output, China Imports Rise
Crude prices edged up in early Friday trade following reports that major producers have started cutting production as pledged, strengthening views the global oil glut was ebbing. On the New York Mercantile Exchange, light, sweet crude futures for delivery in February CLH7, 0.07% traded at $53.09 a barrel, up $0.05 in the Globex electronic session. … Read more