OIL PRICE: NEAR $71
REUTERS - Oil prices jumped more than 1.5 percent on Monday after top exporter Saudi Arabia announced a supply cut in December and other producers also considered reductions heading into 2019.
Front-month Brent crude futures LCOc1, a benchmark for global oil prices, were at $71.59 per barrel at 0749 GMT, up 2 percent from their last close.
U.S. West Texas Intermediate (WTI) crude futures rose 1.6 percent to $61.15 per barrel.
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