Oil price edged slightly higher on Tuesday, tracking a pause in dollar rally in early Asia. Meanwhile, supply concerns after news reports of OPEC signalling production cuts also sent crude prices higher. The Organization of the Petroleum Exporting Countries stands ready to reduce production to correct the recent oil price fall driven by poor futures market liquidity and macro-economic fears, which have ignored extremely tight physical crude supply, OPECs leader Saudi Arabia reportedly, said on Monday. WTI crude oil prices are quoting higher by 0.83% at $91.11 per barrel. Powered by Commodity Insights
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