Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around the $86.40 mark so far on Wednesday. WTI price trims gains after reach
ing $88.00 for the first time since November. The voluntary supply cut by Saudi Arabia and Russia are the main driver for the WTI’s rally.
Meanwhile, Russia's Deputy Prime Minister Alexander Novak said on Tuesday that the nation would reduce its exports by 300,000 barrels per day through the end of 2023.
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