Oil prices rise after Saudi Arabia pledges more voluntary production cuts

OPEC+ pumps approximately 40% of the world’s crude and policy decisions can have a significant impact on prices.
The world’s top oil exporter Saudi Arabia announced further voluntary output cuts which will be implemented from July.
The kingdom’s output will decline to 9 million barrels per day from around 10 million barrels in May, Saudi’s energy ministry said in a statement. $Occidental Petroleum(OXY.US)$ $Imperial Petroleum(IMPP.US)$ $Chevron(CVX.US)$ $Exxon Mobil(XOM.US)$