Oil Prices Edge Up As Saudis Cut Production

(Undated) — Oil prices are up slightly on reports that Saudi Arabia has cut production.

West Texas Intermediate crude is up 32 cents a barrel, to $67.52.

International benchmark Brent crude is up 26 cents, to $72.87 a barrel.

OPEC reported Monday that Saudi Arabia cut production by 200,000 barrels a day in July.

The Saudis made the move in an effort to prevent oversupply.