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Urgent: Oil prices soar after OPEC agreement

Xinhua, December 2, 2016 Adjust font size:

Oil prices soared on Thursday after the Organization of the Petroleum Exporting Countries (OPEC) clinched a deal to cut production, the first of its kind since 2008.

The West Texas Intermediate for January Delivery increased 1.62 U.S. dollars to settle at 51.06 dollars a barrel on the New York Mercantile Exchange, while Brent crude for February delivery added 2.1 dollars to close at 53.94 dollars a barrel on the London ICE Futures Exchange. Endit