6PM Call: Excessive Trading of Oil & Gas Stocks – November - Oil & Gas Industry Update
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After 2 years, OPEC members finally reached an agreement to cut oil production. OPEC countries agreed to reduce production by 1.2 million bpd, reaching a maximum of 32.5 million bpd. Non OPEC members also accepted to cut down production by 600,000 bpd. After the meeting, Brent oil surged more than 8% to reach a 1 year high of $53/barrel. Our analyst will have more in depth comments about this event in today Analyst’s Pinboard.
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