Oil Prices Surge 5.0% On Report Of Agreed OPEC Cut

Rukhshan Mir (@rukhshanmir) Published December 07, 2018 | 11:21 PM

Oil prices surge 5.0% on report of agreed OPEC cut

The price of Brent North Sea oil rocketed five percent Friday on reports that OPEC and non-OPEC crude producers had agreed to slash crude output.

London, (UrduPoint / Pakistan Point News - 7th Dec, 2018 ) :The price of Brent North Sea oil rocketed five percent Friday on reports that OPEC and non-OPEC crude producers had agreed to slash crude output.

Brent surged to $63.07 per barrel, while New York's WTI advanced by almost 5.0 percent after Bloomberg reported that producers, including oil kingpins Saudi Arabia and Russia, had agreed to cut output by a combined 1.2 million barrels per day.

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