Oil Update: OPEC And Non-OPEC Cuts Mean Higher Oil Prices
December 17, 2016 at 12:58 PM EST
OPEC's recent cut of 1.2 million bpd was just the start. Non-OPEC producers followed with a commitment of 558,000 bpd after the meeting convened Saturday. This was the first cooperation since 2001. It should be positive for oil prices in 2017.