Oil rallies on OPEC output deal; energy stocks lift Wall Street



Oil prices rallied on Wednesday after OPEC members reached an agreement on a production-limiting deal, boosting energy sector shares.
The U.S. dollar was flat versus a currency basket but fell to a near-five month low versus the Norwegian krone NOK=. Norway, although not an OPEC member, is a major crude producer.
Crude oil prices jumped after sources told Reuters that the Organization of the Petroleum Exporting Countries agreed to reduce its oil output by about a million barrels per day.
U.S. crude CLc1 was up 5.2 percent on the day.
The move in oil boosted shares in the energy sector of... read more

 
28 September 2016 in World News, Views: 33
Source: Reuters
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