Oil surges to more than 2-year high on rebalancing

Oil surges to more than 2-year high on rebalancing

Brent crude surged to its highest in more than two years as the market reacts to reports that the global supply glut has reduced considerably with OPEC and its partners reporting a more hundred percent compliance with production cuts agreed last year. The price has also been helped by geopolitical factors including a threat by…

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