OPEC to Make Promised Production Cuts

The Organization of Petroleum Exporting Countries’ reduction of crude output has made money managers optimistic about West Texas Intermediate oil prices for the first time in almost a decade. Saudi Arabia announced that over 80% of the reduction of 1.8 million barrels a day had begun. This cut will reduce output to 486,000 barrels a day, […]
  • Anahit Moumjian
  • January 31, 2017
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