CNBC | Oil steadies near $80 as Saudi Arabia plans output increase CNBC Oil hovered around $80 a barrel on Monday, as Saudi Arabia sought to reassure the market that the kingdom remains focused on raising output to compensate for supply losses elsewhere, such as Iran. Benchmark Brent crude oil futures were down 9 cents on ... Saudi, Russian oil output unable to compensate for Iranian crude: Zanganeh Crude oil futures stable amid mild build in US rig data; supply concerns Brent oil rises back above $80 as Iran sanctions loom |