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Oil prices surge 5.0% on report of agreed OPEC cut

AFP  |  London 

The price of rocketed five percent Friday on reports that and non-crude producers had agreed to slash crude output.

Brent surged to $63.07 per barrel, while New York's WTI advanced by almost 5.0 percent after reported that producers, including kingpins and Russia, had agreed to cut output by a combined 1.2 million barrels per day.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, December 07 2018. 20:00 IST