Oil prices dropped early on Monday as a stronger U.S. dollar and many countries still battling rising daily COVID-19 cases weighed on market sentiment at the start of the week
Saudi Arabia has announced reductions in crude oil volumes to be supplied to at least nine clients in Asia and Europe following its decision to add another 1 million bpd to its OPEC+ production cut quota to prop up prices
The oil price rally fizzled out early on Monday as the U.S. dollar strengthened and as China further restricted movement amid doubled new COVID cases, prompting renewed concerns about oil demand
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