Oil post largest weekly gain since June after OPEC meet

Hurriyet Daily News | Dec 8, 2019 at 2:29 PM
  • Crude oil prices posted its largest percentage weekly gain since last June after OPEC and its allies agreed to make deeper cuts to production levels.
  • Brent crude soared 3.6 percent and WTI jumped 4.15 percent on Dec. 4 with hopes OPEC and its allies would curb production by an additional 500,000 barrels per day (bpd).
  • The agreement will carry the collective production curb of OPEC+ from 1.2 million bpd to 2.1 million bpd starting Jan. 1 to the end of March.