NEWS ARCHIVE

Oil soars on Russia-OPEC talk

THE price of a barrel of oil climbed above $50 overnight as the Russian bear agreed to lie down with the OPEC cartel and co-operate on production cuts as supply and demand appear to be close to balance.

Oil soars on Russia-OPEC talk

Overnight Saudi Arabia expressed optimism that OPEC will work out a binding deal with other producers and Russia said it would back an accord, sending oil to its highest peak in a year. Between them...

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