Freeze chatter heats up oil

THE oil price surged back to the mid-$US40s overnight as fresh rumblings came from the OPEC cartel that after almost two years of low oil prices, they may finally cease their bickering and consider joint action to help support the price of a barrel of black gold.

OPEC last considered a freeze in April but could not reach an agreement, a move that effectively killed the power of the cartel to control prices and production.

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