Oil industry elite hits Singapore to debate over crude s next twist business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Saudi Arabia is expected to extend a 1 million-barrel oil supply cut into October, as it seeks to shore up prices against a faltering economic backdrop.
Oil rebounded from a three-week low as tightening supplies took center stage, at least temporarily sidelining the concerns about the Chinese economy and US.
Oil posted its first weekly loss since June as low trading volumes left the market vulnerable to macroeconomic concerns, overshadowing signs of a tight phy.