Sunday newspaper round-up: OPEC, Bank of England, M&S
(Sharecast News) - A group of oil producers led by Saudi Arabia will slash their combined production by 1.0m barrels a day. The move by the Organisation of Petroleum Exporting Countries was expected to trigger a $10 a barrel jump in oil prices when financial markets reopened on Monday. It was also seen risking a fresh clash with Washington, which had already threatened consequences following previous output reductions in October. Moscow on the other hand was expected to be a beneficiary. Dan Pickering at Pickering Energy said the decision was likely in response worries about demand and the US banking crisis. - The Sunday Telegraph
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