Oil prices surges despite Saudi pledge

• Story Highlights
• NEW: Oil surges past $136 a barrel in trading on Monday
  
• Saudis will increase daily oil production from 9 million barrels to 9.7 million
  
• Increase from July, boosting production to highest level since 1981
  
• Announcement at Jeddah energy summit to help ease pain of oil price hike
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