Home Business Oil gains 1 percent after Saudi Arabia pledges more output cuts Business Oil gains 1 percent after Saudi Arabia pledges more output cuts By Genpie - February 12, 2019 240 0 Facebook Twitter Google+ Pinterest WhatsApp Oil prices rose more than 1 percent on Tuesday after OPEC figures showed it cut production sharply in January, and as lead member Saudi Arabia said it would reduce its output in March by an additional 500,000 barrels.