Crude oil prices in the world market are rising again after a group of non-OPEC members agreed to cut production by more than five hundred thousand barrels per day.
Analysts say that OPEC members stand to gain new grounds in price growth.
Russia, in particular, had taken the lead in output reduction to boost price. In late November, OPEC Ministers meeting in Vienna, dropped 1.2 million barrels per day in the cartel’s cover supplies.
The London Brent trades upward at fifty six dollars per barrel.