Oil Prices Gain on Talks of Output Freeze

March 16, 2016

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CBC News reported that OPEC member states will meet next month in Doha to discuss a potential freeze on oil output.

As quoted in the publication:

Oil prices reversed their downward trend of the last two days on the news and were up about three per cent in morning trading.

West Texas Intermediate, the benchmark North American contract, rose $1.10 US to $37.45 US a barrel. Brent crude, the main international contract, was up $11.11 at $39.45.

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Category: Energy