Oil price futures have rebounded as a result of a deal made by Saudi Arabia and Russia to freeze output at January levels.
Brent crude futures have climbed to $32.52 per barrel in early morning, according to Reuters, after falling back by $1.21 in the previous session. Brent crude had closed at $32.01 on Tuesday, after rising to $35 at one point during the day. At its lowest point last month, oil was trading at $27.88, and is currently around 70% below its peak in 2014. WTI crude oil still remains below $30, trading at $28.95 per barrel. The agreement by Saudi Arabia and Russia will see them limit production at January's near-record levels alongside Iraq, Qatar and Venezuela. However, at this stage the...
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