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Crude gains $1.07

Posted on: December 09, 2016

Crude made it back over the $50 mark on Thursday's trading, gaining back much of the ground lost on the previous day. WTI settled the day at $50.84, gaining $1.07. Brent rose $0.89 and closed the day off at $53.89. Bloomberg has reported that OPEC producing countries hit record levels of production in November with much of the increase coming from 2 countries that will be exempt from the proposed cuts.

This will only make the load heavier on the countries agreeing to scale back production, however there are talks that OPEC may meet with other non-OPEC producers seeking cooperation.


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