Crude oil prices continued to test new highs in Monday trading, supported by a growing consensus that OPEC will extend a production cut agreement in November. The price for Brent crude oil touched $60 per barrel on Friday, for the first time in years, as rhetoric pointed to a decision by the Organization of Petroleum Exporting Countries to extend a plan to trim production in an effort to balance an oversupplied market. That rhetoric was confirmed during the weekend by Saudi Arabia’s government, which affirmed its “readiness to extend the production cut agreement.” On Monday, Suhail al-Mazrouei, the energy minister for the United Arab Emirates, said that while nothing would be decided until the […]