Oil Edges Up As Saudis Cut Supplies To U.S

Oil prices edged up on Friday, supported by a fall in Saudi exports to the United States, but overall markets remained under pressure on the back of a world market awash with fuel. Prices for front-month Brent crude futures, the international benchmark for oil, were at $50.63 per barrel at 0343 GMT, up 7 cents from their last close.

 In the United States, West Texas Intermediate (WTI) crude futures were up 12 cents at $47.82 a barrel. Traders said the lift in prices came as a report that Saudi Arabia's crude exports to the United States in March would fall by around 300,000 barrels per day (bpd) from February, in line with OPEC's agreement to reduce supply.

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