LONDON  -Oil hit new peaks on Wednesday with Brent crude touching the highest since April as tighter supply owing to Saudi and Russian output cuts offset concerns over slow demand from China and a report showing rising U.S. crude inventories. Saudi Arabia's cabinet said on Tuesday that it reaffirms its support for precautionary measures by the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, to stabilize the market, state media reported. Brent crude rose 64 cents, or 0.

https://business.inquirer.net/415054/oil-hits-new-highs-as-tighter-supply-offsets-china-demand-concern

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