Jumping by nearly three dollars, the price for oil produced by the Organisation of the Petroleum Exporting Countries (OPEC) ended the day at $50 a barrel on Thursday, the cartel announced on Friday.
OPEC is fully enforcing its deepest ever oil supply curbs.
http://www.ibnlive.com/news/oil-jumps-nearly-7-percent-on-supply-cuts-dollar/83438-7.html
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OPEC produces about 40 per cent of the world's crude.
http://www.ibnlive.com/news/oil-at-fouryear-lows-near-40-despite-opec-cut/80864-7.html
The move is to balance the slowing demand of oil worldwide.
http://www.ibnlive.com/news/opec-decides-to-cut-oil-output-by-42-mn-barrelsday/80805-7.html
Oil prices jumped four dollars, or almost 10 per cent.
http://www.ibnlive.com/news/rupee-lifts-oil-prices-lift-on-russian-offer/80357-7.html
US light crude for January delivery rose 67 cents to $50.60 by 0238 GMT.
http://www.ibnlive.com/news/oil-rises-above-50-opec-cut-eyed/78895-7.html
US crude fell $3.71, to $49.91 a barrel by 1402 GMT, the weakest level since January 2007.
http://www.ibnlive.com/news/crude-dips-below-50-for-the-first-time-since-jan-2007/78603-7.html
This is the lowest level of oil in almost 2 years.
http://www.ibnlive.com/news/oil-prices-fall-below-56-mark-after-g20-meet/78362-7.html
With dollar getting stronger, non-US airlines are paying more to buy oil.
http://www.ibnlive.com/news/drop-in-fuel-prices-offset-by-economic-crisis/76571-7.html
Iran oil minister says this will help in preventing crude prices from falling.
http://www.ibnlive.com/news/iran-calls-for-emergency-opec-meeting/76242-7.html
Oil rose more than $3 on Friday, rebounding from a 15-month low.
http://www.ibnlive.com/news/oil-price-rise-on-wall-street-rally/76067-7.html
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