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2016-12-12 — cnn.com
Oil has soared above $54 a barrel to its highest level in nearly a year and a half. U.S. crude futures jumped more than 5% on Monday after Russia and a bunch of other big producers agreed over the weekend to join OPEC members in cutting their output next month.
... The group of non-OPEC nations -- which includes Mexico, Kazakhstan and Oman -- will aim to reduce their production by 558,000 barrels a day, according to a statement. That follows OPEC's deal last month to cut its overall production by 1.2 million barrels a day. ... "The question which troubles some investors is whether the higher oil price will give the U.S.'s shale oil production a new lease of life," said Naeem Aslam, chief analyst at Think Markets in London. source article | permalink | discuss | subscribe by: | RSS | email Comments: Be the first to add a comment add a comment | go to forum thread Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately. |