PRESS ROOM
OPEC cuts fuel oil rally
Monday 09th December '19
The Organisation of the Petroleum Exporting Countries (OPEC) and its partners have reached a preliminary deal to cut oil supply by a further 500,000 barrels per day, bringing total cuts (relative to Oct 2018 levels) to 1.7mn barrels per day. Brent prices rallied by more than 5% last week as markets began pricing in the supply cuts over the course of the week.