Oil prices climb on OPEC deal, lack of detail caps gains

Oil prices climb on OPEC deal, lack of detail caps gains
 

Oil futures extended gains on Thursday after rising nearly 6 percent the day before on a surprise move by OPEC to curb crude output.
The Organization of the Petroleum Exporting Countries agreed to limit its production to a range of 32.5-33.0 million barrels per day (bpd) in talks held on the sidelines of an energy conference in Algeria.
But how much each country will produce is to be decided at the next formal OPEC meeting in November, when an invitation to join cuts could also be extended to non-OPEC countries such as Russia.
"The decision really took market by surprise - prices took... read more

 
29 September 2016 in Business, Views: 52
Source: Reuters
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