5 May 2024
Oil prices jump as OPEC agrees output cut
Publication date: 01 December 2016
Gas Strategies Group
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OPEC oil producers agreed to cut output for the first time since 2008 on Wednesday, in a move that has sent the price of international benchmark Brent crude up by over 10%.
Brent front-month futures rose by over USD 4/barrel to close at USD 51.84/barrel on Wednesday and were trading just below USD 54/barrel on Thursday evening.