NEW YORK: Oil prices soared more than $3 a barrel on Tuesday after Saudi Arabia floated the idea of OPEC+ output cuts to support prices and with the prospect of a drop in US crude inventories.
The Saudi energy minister said OPEC+ had the means to deal with challenges including cutting production, state news agency SPA said on Monday, citing comments Prince Abdulaziz bin Salman made to Bloomberg.
Global benchmark Brent crude gained $3.41,…
