Oil prices rose early on Tuesday to their highest level this month, supported by the Saudi pledge to continue cutting deeper and a blackout in Venezuela that disrupted its oil production and exports. At 10:42 a.m. EDT on Tuesday, WTI Crude was up 1.27 percent at $57.51 and Brent Crude was trading up 0.92 percent at $67.19. Both benchmarks were trading at their highest levels so far in March. On Monday, OPEC’s de facto leader and largest producer, Saudi Arabia, signaled that it is determined to do ‘whatever it takes’ to rebalance the market and support oil prices by keeping its April crude oil exports at below 7 million bpd, despite requests for more than 7.6 million bpd of Saudi oil from its customers. The lower allocations by Saudi Aramco for April will also mean that the Kingdom’s oil production will be “well below 10 million bpd” in April, […]