Organisation of the Petroleum Exporting Countries

Oil Prices Jumped After Surprise Move To Cut Production

Oil Prices Jumped After Surprise Move To Cut Production

Oil prices increased on Monday when several world’s largest exporters announced a surprise cut in production. Now Brent crude oil is trading at $85 a barrel after jumping straight 6%. Some economists anticipated that the higher price would make it harder to cut the cost. But the RAC motoring group stated that the rise in…