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 […]