Oil prices jump after OPEC's agreement with the producing countries outside

12/12/2016
Oil prices have seen a big jump by more than 5 percent with the start of trading in Asian markets after reaching Organization of Petroleum Exporting Countries (OPEC) and oil - producing countries outside of the first agreement since 2001 to reduce production in order to raise prices.
The price of Brent crude for February delivery of $ 2.81 to $ 57.14 a barrel, up 5.2 percent.
The price of US crude rose by $ 2.57 to $ 54.07, by 5 per cent.
On Saturday and agreed oil - producing countries outside OPEC to cut production by 558 thousand barrels per day, the largest reduction in the production of the state oil producer outside OPEC at all.
The OPEC agreed to cut production by 1.2 million dollars per day , starting from the first of January, with Saudi Arabia cut - largest oil producer in the world production by 486 thousand barrels per day.


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