Friday, September 30, 2016

How Far Do Committments Go In New OPEC Agreement?

Oil prices rise after OPEC announces first output cut since 2008

OPEC has agreed to cut its oil output for the first time since 2008. The major oil producing nations struck a preliminary deal at talks in Algeria. Brent crude the international benchmark for oil, rose almost 6% to nearly $49 a barrel on the news. The move sent US stocks rising with energy shares pushing the…