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Oil bounces back on OPEC deal hopes

2016-11-15 1 Dailymotion

Oil prices jumped on Tuesday on expectations that top producers from the Organization of the Petroleum Exporting Countries may be able to reach an agreement to pump less crude.<br /><br /> They needs to do that to reduce a huge supply glut.<br /><br /> News of an attack on a major oil pipeline in Nigeria gave an additional push to prices, but at the same time production is rising in Libya.<br /><br /> OPEC members are due to meet on November 30 to talk about limiting output. <br /><br /> An outline deal was reached in September, but negotiations on the details are proving difficult, according to officials.<br /><br /> Reportedly the Saudi Energy Minister Khalid al-Falih will travel to the Qatari capital, Doha, this week for meetings with oil-producing countries on the sidelines of an energy forum.<br /><br /> Oil futures bounced off a three-month low bolstered by speculation of OPEC output cut https://t.co/0yi2wrSBGp — Wall Street Journal (@WSJ) November 15, 2016<br />

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