Stocks rally at the open as key oil producers signal production freeze
Michael Hsueh, commodities analyst at Deutsche Bank, examines the agreement by Saudi Arabia and Russia to freeze oil production at January levels and how Iran re-entering the market impacts the deal.
Stocks jumped at the open in hopes of a second day rally as traders return from the long weekend and Wall Street reacts to news that Saudi Arabia, Russia, Qatar and Venezuela have agreed to cap crude production at January levels if other major producers, such as Iraq and Iran, follow suit.
Sinking oil prices, of course, have been a major cause of financial market turbulence to start 2016, as it... read more
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