Oil Prices Ease From 10-month Highs but Hold Above $90 a Barrel

Oil and gas tanks are seen at an oil warehouse at a port in Zhuhai, China, on Oct. 22, 2018. Aly Song/Reuters

LONDON—Oil prices dipped on Monday after fresh Saudi and Russian crude output cuts had driven prices to 10-month highs last week.

Saudi Arabia and Russia last week announced that they will extend voluntary supply cuts of a combined 1.3 million barrels per day (bpd) until the end of the year.