NEW DELHI : After nosediving to their lowest level since 2002, the global oil prices saw an upswing on Thursday with US President Donald Trump tweeting about the likelihood of Saudi Arabia and Russia reducing output by around 10-15 million barrels per day (mbpd).
The international benchmark Brent hit $32.86 per barrel on Thursday and was trading at $28.57 per barrel. The West Texas Intermediate also rose and was trading at $24.73 per barrel.
Oil prices had touched an all-time high of $147 per barrel in July 2008. “Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it