Major averages rose yesterday but closed mid-bar in stalling fashion as volume was higher.
Oil futures rocketed 8% on news that the Organization of the Petroleum Exporting Countries has agreed to cut oil production for the first time in eight years. The cartel will reduce its total supply by 1.2 million barrels a day to 32.5 million barrels a day, according to Bloomberg, citing a delegate to the group.
Keep in mind a deal has yet to be finalized, but should complete later today.
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