Singapore — 0352 GMT: Crude oil futures were buoyed as Saudi Arabia’s voluntary 1 million b/d production cuts, announced in January, took effect, even as concerns of flailing energy demand amid the coronavirus pandemic persisted. Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 11:52 am Singapore time (0352 GMT), the ICE Brent April contract rose 33 cents/b (0.6%) from the Jan. 29 settle to $55.37/b, while the March NYMEX light sweet crude contract was up 22 cents/b (0.42%) to $52.42/b. On Jan. 5, Saudi Arabia voluntarily committed to an extra 1 million b/d production cut through February and March to help bridge the supply and demand imbalance in the market. These cuts came into effect Feb. 1. The start of the Saudi production cuts comes amid strong compliance from OPEC+ as a whole, with analysts from St. George Bank noting on Feb. 1 that […]