FXStreet (Córdoba) – Oil prices jumped, lifting CAD, MXN and RUB amid reports that Saudi Arabia proposed a 5% output cut across the board.
Media reports cite Russian energy minister Novak as the source. Russia’s Novak said OPEC meeting may discuss 5% output cut and may involve all oil producing nations. The meeting will take place in February.
(Market News Provided by FXstreet)