Oil Prices Finish Higher After News Of Saudi Pledge To Cut Exports, Nigeria Plans To Cap Output

By Myra P. Saefong Markets MarketWatch Pulse

Oil finished higher Monday for the first time in three sessions. Prices got a boost following news that Saudi Arabia has pledged to cut its crude exports starting next month and Nigeria agreed to cap its output once it has climbed to 1.8 million barrels a day, according to The Wall Street Journal. September WTI crude rose 57 cents, or 1.3%, to settle $46.34 a barrel on the New York Mercantile Exchange.

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