Oil rallied as markets digested the possibility of OPEC+ cutting production in order to stabilize the volatile futures market.  West Texas Intermediate rose 3.7 per cent to over US$93 a barrel on Tuesday, getting an extra boost as the dollar slid, making commodities priced in the currency more attractive. Prices rallied above US$90 after Saudi Oil Minister Prince Abdulaziz bin Salman told Bloomberg 'extreme' volatility is disconnecting futures prices from fundamentals.   'Oil is rebounding this morning as the topic of production cuts has surfaced amid recent price weakness and a growing chorus that paper markets are being distorted by low volumes and fewer participants,' said Stacey Morris, head of energy research at VettaFi.

https://www.bloomberg.com/news/articles/2022-08-23/oil-gains-after-saudis-flag-opec-action-to-arrest-price-slide

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