Oil Posts Third Monthly Gain as OPEC+ Announces Further Cuts
- Russia agreed with OPEC+ partners on extending oil-export cuts
- WTI settles above $83 a barrel, rising for a sixth session
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Oil rose for a sixth session, buoyed by risk-on sentiment and news that Russia had agreed on further OPEC+ cuts.
Although thin summer liquidity has kept the commodity tethered to broader markets, tightening physical supplies are supporting prices, with West Texas Intermediate posting a third monthly rise.