Opec Deal: Aleksandra Sagan and Oil Production

opec deal: The December crude contract gained 54 cents to $49.72 per barrel, according to The Toronto Star. This was an improvement from Wednesday close which saw its three-day losses total $1.67 , after investor sentiment soured following news that Iraq sought an exemption from an anticipated OPEC deal to cut oil production. By Aleksandra Sagan The Canadian Press Thu., Oct. 27, 2016 The price of oil recouped some of its value Thursday after three consecutive days of losses, while the Toronto Stock Exchange inched higher. Allan Small, a senior investment adviser at Holliswealth, said oil gain Thursday can be explained by the regular ups and downs in the price of the commodity. And, all of a sudden, you have a drop in price, he said. He said he would be surprised to see oil move significantly higher than the roughly $49.00 a barrel its been priced at recently, noting that production ramps up when the price reaches or surpasses the $50 a barrel mark. (news.financializer.com). As reported in the news.