Wednesday, 30 November 2016 () Delegates from the Organization of the Petroleum Exporting Countries agreed to cut production by 1.2 million barrels a day to 32.5 million, Iranian Oil Minister Bijan Zanganeh said, representing about 1% of global production.
Oil prices continued their upward climb Thursday, buoyed by Wednesday's landmark OPEC agreement. OPEC will reduce oil production by 1.2 million barrels a day starting in January - it's first production cut since 2008. The news sent Brent and West Texas Intermediate higher by roughly 9%. Saudi Arabia...
OPEC has agreed to cut its oil production for the first time in eight years in an effort to boost crude prices.
The cartel will cut 1.2 million barrels a... L.A. Times - BusinessAlso reported by •Zero Hedge
Iran just hammered another nail in the coffin of an OPEC 'deal' when oil minister Bijan Namdar Zanganeh told reporters in Vienna ahead of OPEC meeting on... Zero Hedge - MarketsAlso reported by •VOA News