Oil nears $54 as OPEC agrees to extend cuts

by | May 22, 2017 12:49 pm

Brent oil is trading at $53.70 Monday afternoon, extending gains as Saudi Arabia said all producers participating in output cuts have agreed on prolonging the deal till the end of the first quarter of next year. According to the Saudis all the nine countries involved in the quota limits will extend the cut when the…

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