The Organisation of Petroleum Exporting Countries (OPEC) on Friday agreed on a modest increase in oil production from next month after its leader Saudi Arabia persuaded arch-rival Iran to cooperate, following calls from major consumers to curb rising fuel costs.
But the agreement failed to announce a clear target for the output increase, leaving traders guessing how much more OPEC will actually pump. Oil prices rose by $1.85 to $74.90 a barrel.
The United States (US) President Donald Trump was among those wondering how much more oil OPEC will deliver....
