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Oil jumps 4% on U.S. stockpiles drop; further OPEC output cuts seen

FILE PHOTO: Pump jacks operate in front of a drilling rig in an oil field in Midland
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NEW YORK (Reuters) - Oil prices surged 4% on Wednesday on expectations that OPEC and allied producers would extend production curbs, and as U.S. government data showed a large drop in domestic crude stockpiles. Brent crude futures were up $2.44, or 4%, at $63.26 a barrel by 11:09 ET (1609 GMT). U.S. West Texas Intermediate (WTI) crude futures were up $2.38, or 4.2%, at $58.48. The..
Date Published: Dec 04, 2019
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