Media: OPEC to cut 1.2 million barrels per day
The OPEC member states have now agreed to slash their output by 1.2 million barrels of oil per day, reports Bloomberg citing a delegate at the OPEC meeting in Vienna. The oil price soars on the news.
The price of a barrel of oil in London soars 7.6 percent to to USD 49.90 dollars at 1.23 pm CET after the OPEC member states reach agreement, reports Bloomberg, citing a delegate present at the meeting in Vienna who wishes to remain anonymous, as the decision has yet to be made public.
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