Oil prices rose by 1% on Monday as Saudi Arabia announced a cut in Crude Oil supply for December.
This comes as a measure to put a hold on the drop in Crude Oil price by 20% since October.
International benchmark Brent crude oil futures were at $71.11 per barrel, gaining 1.3 % from their last close.
U.S. West Texas Intermediate crude oil futures were at $60.73 per barrel, a 0.9 percent rise from its last close
