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Further Pricing Uncertainty

Oil prices have risen by 6% after the Organisation of Petroleum Exporting Countries (Opec), some of the worlds biggest oil producers, struck a deal to limit the output of crude - the first production cut since 2008. It is claimed the proposed reduction in oil output is to ease fears of overproduction in the market.

The deal is said to increase the price of a barrel of oil to around $60, but details are to be finalised in November when members of Opec will meet to agree production levels for each country.