A further decrease in production and exports is announced by Saudi Arabia and Russia.

The two biggest oil exporters in the world, Saudi Arabia and Russia, announced curbs in production and exports on Monday, which raised crude prices in morning trading.

Saudi Arabia announced that it would prolong its voluntary one million barrel per day reduction in oil output for one more month, to cover August, and that the voluntary reduction might be extended further.

Alexander Novak, the deputy prime minister of Russia, announced his nation would reduce its oil shipments by around 500,000 barrels per day in August not long after Saudi Arabia made its declaration.

The reductions represent 1.5 percent of the world's supplies and bring the OPEC+ alliance's total reductions pledged to 5.16 million barrels per day.

Insurance companies in France announced - today, Tuesday - that the bill they will pay to repair the damages resulting from the protests that erupted in the country - two weeks ago, in the wake of the killing of the young man, Nael, by a policeman - amounts to 650 million euros.

About 90 percent of this "cost (...) relates to the 3,900 properties of professionals and communities" affected by the "riots," Florence Lustmann, president of the federation of French insurers "France Assurure", said in a statement.

As for the remaining percentage (approximately 10%), it mainly relates to damages sustained by individuals whose cars were primarily severely damaged.

Last week, the federation estimated this bill at less than half (280 million euros).

The union counted 11,300 claims related to damages resulting from the week-long protests, sparked by the killing of 17-year-old Nael during a traffic inspection in Nanterre, west of Paris.

Geoffroy Rody Beziou, president of the French Employers Association "MEDEF", announced that it was too early to provide an accurate number, but what is certain is that the damage exceeds one billion euros, without calculating the repercussions on the tourism sector.