Oil rises 2 percent on signs rebalancing underway

10/11/2017

OPEC has adhered to its record high supply cutting deal so far this year and is considering extending the deal beyond its March 2018 expiry. The market appears to be re-balancing quickly, helped by the cutback as well as by stronger-than-expected growth in global demand. WTI Crude is UP at $51.03 and Brent Crude is at $56.61.

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