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Rich Asplund

Crude Rallies on Report Russia Will Extend Its Export Cuts

Oil United States Russia EIA OPEC Iran Vortexa

October WTI crude oil (CLV23) today is up +0.87 (+1.07%), and Oct RBOB gasoline (RBV23) is down -0.0094 (-0.37%).

Crude oil prices are higher today after a report that Russia has agreed with OPEC+ on further output restrictions. Bloomberg News reported that Russia will announce next week that it has agreed with OPEC+ on further cuts in its oil exports into October. Russia has already announced a cut of 300,000 bpd of output cuts for September.

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