the Nikkei

‘Saudi surprise’ output cut fuels oil price surge past $60 a barrel

‘Saudi surprise’ output cut fuels oil price surge past $60 a barrel

  • MSCI’s 50-country index of world stocks hit its ninth record high of 2021 overnight as Tokyo’s Nikkei jumped on talk of Japan’s relaxing emergency restrictions
  • Saudi Arabia’s pledge of extra output cuts in February and March on the back of reductions by other OPEC members is helping to limit supply and support prices
By Frank Kane ·