Oil prices have rallied in recent months as crucial oil producers Saudi Arabia and Russia press ahead with production cuts to maintain price stability. Crude oil has surged 30% since its late-June low.
As of press time, Brent crude futures were at $94.75 a barrel at 0055 GMT, and US West Texas Intermediate crude futures were trading at $91.36 according to data from Trading Economics.
Supply Shortages and High Demand...