Oil price leap: Will it reach USD 55?

The anticipation of OPEC reaching agreement to reduce production has sent the oil price back up. Although nothing is final, a potential deal would lead to a significant increase in the oil price, writes Nordea.

Photo: /ritzaui/AP/Hasan Jamal

The price of oil has taken a major leap. Monday saw the price for a barrel of North Sea reference oil, Brent, grow by 3 percent and thus move much closer to USD 50 per barrel. This means the price has gone up by more than 6 percent over the past three days.

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