While you were sleeping: Oil climbs on OPEC deal

Wed, 28 Sep 2016

By Margreet Dietz Sept. 29 (BusinessDesk) - Oil prices jumped, while stocks on Wall Street rose, on a report that OPEC reached an agreement to limit output. The Organisation of the Petroleum Exporting Countries agreed to reduce its oil output to 32.5 million barrels per day from the current production levels of around 33.24 million bpd, Reuters reported, citing two OPEC sources. The producing group will agree concrete levels of production by each country at its next formal meeting in November, the sources said, according to Reuters....

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