[New York 9th Reuters]-Crude oil futures in US time rose about 2%. Prince Abdul Aziz bin Salman, who was appointed Saudi energy minister, showed a stance to maintain a policy to cut production to support crude oil prices.
Abdul Aziz said on September 9 that Saudi Arabia will continue to cooperate with other oil-producing countries to achieve the equilibrium of the crude oil market. He said that he would continue with his will.
The clearing price of North Sea Brent Futures <LCOc1> is $ 1.05 (1.7%) higher, 1 barrel = $ 62.59. US WTI Crude Oil Futures <CLc1> was $ 57.85, an increase of $ 1.33 (2.4%).
Jim Ritterbush, president of Ritterbush & Associates, said the new energy minister was “a strong suggestion that production restraints will continue until market equilibrium is further advanced.”
