You are here: Home » Reuters » News
Business Standard

Oil jumps 2 percent on expectations of production cuts

Reuters  |  LONDON 

By Christopher JohnsonLONDON (Reuters) - Oil prices rose more than 2 percent on Tuesday, extending gains ahead of expected output cuts by producer cartel OPEC and a mandated reduction in Canadian supply.Brent crude oil rose $1.55 or 2.5 percent to a high of $63.24 by 0955 GMT. U.S. light crude was $1.25 higher at $54.20. Both benchmarks climbed around 4 percent on Monday after U.S. President Donald Trump and Chinese President Xi Jinping agreed at a meeting of the Group of 20 industrialised nations (G20) to pause an escalating trade dispute."The market seems positively oriented following the ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Tue, December 04 2018. 15:36 IST
RECOMMENDED FOR YOU