Oil Market: Saudi Arabia and Russia on Sept. 5 extended voluntary supply cuts of a combined 1.3 million barrels of oil per day to year end. The Organization of the Petroleum Exporting Countries, Russia and allied producers are known as OPEC+.
Oil Market Updates: While the market sees the fair price for oil at USD 72 to USD 88 per barrel, "the markets are probably a bit too relaxed," Ben Luckock, co-head of oil trading at Trafigura, told the APPEC conference in Singapore.