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Urgent: Oil prices surge on OPEC agreement

Xinhua, December 1, 2016 Adjust font size:

Oil prices surged on Wednesday after the Organization of the Petroleum Exporting Countries (OPEC) clinched a deal to cut production.

The West Texas Intermediate for January Delivery increased 4.21 U.S. dollars to settle at 49.44 dollars a barrel on the New York Mercantile Exchange, while Brent crude for January delivery added 4.09 dollars to close at 50.47 dollars a barrel on the London ICE Futures Exchange. Endit