US and international oil prices jumped on Friday by more than 4% after a week-long slump. Saudi Arabia is considering prolonging production cuts into 2024, the Financial Times reported. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS and global oil prices surged on Friday following a week-long slump, as the Financial Times reported top producer Saudi Arabia is considering prolonging its production cuts into 2024. Falling oil prices would be the main driver of the cuts, but some members, the report said, are concerned about the Israel-Palestine conflict and the crisis unfolding in Gaza.

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Persons: —, Brent, Prince Abdulaziz bin Salam Organizations: Financial Times, Service, West Texas Intermediate, FT, Saudi Locations: Saudi Arabia, OPEC, Vienna, Israel, Palestine, Gaza, Kuwait, Algeria, Iran