Oil Prices Tick Up as Saudi Arabia, Russia Extend Output Cuts While U.S. Mulls Tougher Iran Sanctions
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Oil prices edged up as Saudi Arabia and Russia said they would continue extra output cuts until end of year.
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Investors watched for tougher U.S. sanctions on Iranian oil.
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Saudi Arabia confirmed it would cut 1 million bpd in December to keep output around 9 million bpd.
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Russia also said it would continue its additional cut of 300,000 bpd until end of December.
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U.S. House passed bill to bolster sanctions on Iranian oil that could affect exports if signed into law.