Crude futures rose on Monday after reports that Saudi Arabia and key OPEC+ partner Russia would extend voluntary production cuts into August. AFP quoted the official Saudi Press Agency as saying the 1 million per barrel Saudi cut would be extended into August, and could be extended again. Russian reports separately indicated an extension of its 500,000 per barrel cut. The lead light sweet crude contract
CL00,
rose 1% to $71.32 per barrel.
