The price of US crude has also risen, trading 1.1 percent higher at $49.99 a barrel after jumping nine percent on Wednesday.
The deal, OPEC’s first output cut for eight years, is designed to reverse a slump in global oil prices and will see the group reduce production by 1.2 million barrels a day from January.
Yvad Billings, Readers Bureau, Fellow
Edited by Jesus Chan
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