Oil Prices Rise After OPEC Agreement

oilOil.Photo: pixabay.com

OPEC has agreed to cut oil production, according to Reuters. Oil prices rose sharply after the information was released.

The spot price of North Sea oil has appreciated by around 3 dollars a barrel the few hours from closing until the message arrived. Before 21:00, the price was $48.47.

It is not clear who is Reuters’ source for information about an agreement on production cuts this November.


Source: NTB scanpix / Norway Today