Oil Prices Climb as OPEC members and Russia allies agreed to reduce output

1
585
oilfieldjobs

The Crude oil soared 2.18% and settled at $52.61 per barrel after OPEC agreed to cut production by 1.2 million barrels per day during the second day of negotiations in Vienna. The commodity’s had there best weekly performance in more than two months.

Oil prices ended more than 2 percent higher on Friday after OPEC members and Russia allies agreed to reduce output to drain global fuel inventories and support the market, but the gains were capped by concerns that the cuts would not offset growing production.

Previous articleOPEC and allies just agreed to cut oil production by 1.2 million barrels per day
Next articleSupplying sand Boxes isn’t that hard of a job.

1 COMMENT