The price of oil soared by 5% yesterday as Russian and Saudi Arabian energy ministers agreed to discuss ways to stabilise the oil market.
Brent crude initially rose above $50 per barrel following the announcement before settling back down to 1.6% higher at $47.56, according to the BBC. The plan, which was revealed at a news conference at the G20 summit in China, was made by Russia and Saudi Arabia's energy ministers, Alexander Novak and Khalid al-Falih who said the plan was to support the "stability of the oil market ...
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