As a result of a convoluted meeting by the OPEC countries at the end of November, the price of oil shot up immediately by at least 10 per cent on the world oil markets. Expect those increases to hit very soon.
A cut in supply is the main reason for markets immediately reacting, but as some analysts have pointed out, OPEC making a decision and the countries involved actually implementing it, are two different things.
Basically though the low price of oil is now destined to be consigned to the dustbin. Onward and upward as they say!
