Oil prices surge after OPEC agrees surprise cut in production

Oil prices surge after OPEC agrees surprise cut in production

The Organization of Petroleum Exporting Countries (OPEC) agreed Wednesday to cut oil production, ministers said, in a surprise move aimed at boosting persistently weak crude prices. The news triggered an immediate spike of more than 5 percent in crude prices, as markets had expected the Algiers meeting to end without agreement. In London benchmark Brent […]

French farmers, dismayed over diving prices, picket dairy group

French farmers, dismayed over diving prices, picket dairy group

French farmers are occupying an intersection outside the headquarters of dairy giant Lactalis and crying for help as they struggle to compete with cheaper countries in Europe’s single market. A glut of milk and diving dairy prices are forcing French farms to sell below cost. Farmers’ unions want big companies to pay more for milk […]