Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019.
REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsBEIJING, Nov 6 (Reuters) - Oil prices edged up on Monday as top exporters Saudi Arabia and Russia said they would stick to extra voluntary oil output cuts until the end of the year, keeping supply tight, while investors watched out for tougher U.S. sanctions on Iranian oil.
Russia also announced it would continue its additional voluntary supply cut of 300,000 bpd from its crude oil and petroleum product exports until the end of December.
Sydney-based IG analyst Tony Sycamore expects oil prices to be driven by headlines from the Middle East and technical charts this week.
Such sanctions often come with national security waivers, and China could still continue to import Iranian oil.
Persons:
Agustin Marcarian, Brent, Suvro Sarkar, Tony Sycamore, Sarkar, Baker Hughes, Florence Tan, Colleen Howe, Shri Navaratnam, Simon Cameron, Moore
Organizations:
REUTERS, Rights, U.S, West Texas, Saudi, ING, DBS, U.S . House, Thomson
Locations:
Vaca, Patagonian, Neuquen, Argentina, Rights BEIJING, Saudi Arabia, Russia, Israel, Singapore, China, Sydney, Iran, United States