Brent oil rises to highest since February after Saudi Arabia output cut
TOKYO: Brent oil NSE 2.01 % prices rose on Wednesday to the highest since February after Saudi Arabia agreed to make bigger cuts in output than expected during a meeting with allied producers, while industry data showed U.S. crude stockpiles fell last week.
Brent crude rose as much as 0.6 per cent to $53.94 a barrel, the highest since Feb. 26, 2020. It was at $53.79 a barrel at 0147 GMT and gained 4.9 per cent on Tuesday.
