Middle East Oil Prices Jump After Surprise OPEC+ Oil Production Cuts

Middle East Oil Prices Jump After Surprise OPEC+ Oil Production Cuts
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Brent crude oil climbed $5 a barrel on Monday after Saudi Arabia and other OPEC+ producers announced new production cuts, and gains in energy shares helped lift world stock indexes. The Dow and S&P 500 ended higher, with the S&P energy sector rising 4.9% for its biggest daily percentage gain since October. In a surprise move, the OPEC+ group on Sunday announced cuts to production amounting to about 1.16 million barrels per day.

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