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2016-12-02 18:55:00

U.S. OIL BENEFITS

U.S. OIL BENEFITS

FT wrote, the agreement by Opec, the oil producers' cartel, to cut output has been welcomed in the US industry as a godsend for hard-pressed production and service companies. But many groups are still expected to be cautious about stepping up production, as they seek to strengthen fragile balance sheets.

Shares in US oil companies soared on Wednesday as Opec ministers meeting in Vienna agreed a plan to cut output by 1.2m barrels per day.

"The biggest…

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Tags: USA, OPEC, OIL, PRICES, PRODUCTION
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