Oil Rises by 1 Percent as Saudi Arabia, Russia Stick to Cuts

Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, on Jan. 21, 2019. Agustin Marcarian/Reuters

LONDON—Oil prices rose on Monday, after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year.

Brent crude futures rose $1.03, or 1.21 percent, to $85.92 a barrel by 0834 GMT, while U.S. West Texas Intermediate crude was at $81.58 a barrel, up $1.07, or 1.33 percent.