Oil jumps as Opec tries to reach production cut deal

Oil jumps as Opec tries to reach production cut deal
 

The price of oil has jumped as an Opec meeting tries to hammer out a production cut agreed in September.
Prices rose more than 5% as energy ministers attended Wednesday's Opec meeting in Vienna.
Saudi energy minister Khalid Al-Falih said "there are good chances" a formal deal can be struck.
In September oil ministers had said full details of the agreement would be finalised at the meeting.
Opec pledged to limit production by about 700,000 barrels a day, but said Iran would be allowed to increase production.
Oil prices rose then, but the absence of detail prompted some traders to... read more

 
30 November 2016 in Business, Views: 45
Source: BBC
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