Oil edges up on Saudi output cut and Iran sanctions | Reuters:
Oil prices rose on Tuesday after Saudi Arabia said it had cut production in July, although concerns over a slowdown in global economic growth kept a lid on markets.
Benchmark Brent crude oil LCOc1 was up 60 cents at $73.21 a barrel by 0745 GMT. U.S. light crude CLc1 was 60 cents higher at $67.80.
Saudi Arabia told the Organization of the Petroleum Exporting Countries that it had reduced crude output by 200,000 barrels per day (bpd) to 10.29 million bpd in July.
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