Crude Oil Advances on Reports Saudi Arabia Reduced Production This Month

Crude oil climbed for a second day in New York on reports that Saudi Arabia, holder of the world's largest oil reserves, reduced output this month. Futures rose 0.9 percent after John Sfakianakis, chief economist at Riyadh-based Banque Saudi Fransi, said the desert kingdom cut production by 300,000 barrels a day. Barclays Plc said Saudi Arabia may be reducing production of its lighter oil blends

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