Oil surges as Saudi Arabia plans to cut production

December 12, 2016

Saudi Arabia’s energy minister says that Saudi Arabia will cut crude oil production ‘substantially’ below the agreed level – sending oil to its highest since July 2015. In addition, Non-OPEC countries (including Russia) have agreed to trim output by 558,000 b/d in the beginning of 2017.

As of 07:06 GMT, WTI Crude Oil (CL) futures for January delivery rose to $54.51 a barrel (up 2.2%). If you think Crude price will continue to go up click on the BUY button, or if you think it will go down, click on the SELL button.

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