opec meeting outcome

Crude oil price extended gains toward $47 a barrel as Saudi Arabia promised deep cuts to crude exports next month to help ease a global glut. U.S. crude stockpiles probably fell for a fourth week through July 21, according to a Bloomberg survey data Wednesday. Oil remains in a bear market amid...

OPEC has agreed its first limit on oil output since 2008, an OPEC after Saudi Arabia said it was prepared to accept cut on production and agree to arch-rival Iran freezing output at pre-sanctions levels. An Organization of the Petroleum Exporting Countries, OPEC source told Reuters that members...