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Oil could head to $60 after Saudis signal deeper output cuts
Sunday, December 11, 2016 16:46
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Oil may climb to $60 a barrel for the first time in almost a year and a half after Russia and other unaffiliated nations joined an OPEC pledge to reduce production and Saudi Arabia surprised the market by saying it will cut more than previously agreed.
Non-OPEC nations said Saturday they will reduce output by 558,000 barrels a day, adding to a Nov. 30 OPEC commitment to cut 1.2 million starting in January. Brent crude has surged more than 15 percent since OPEC announced its first cut in eight years. The price rose above $55 briefly last week …. https://www.bloomberg.com
Source: http://luismmx.blogspot.com/2016/12/oil-could-head-to-60-after-saudis.html
