Crude oil prices up 6% over hopes of supply cut
Brent crude prices rose nearly 6% to $31.80 per barrel amid reports that UAE's Energy Minister said OPEC is going to talk to other suppliers about a supply cut. However, analysts believe that OPEC and non-OPEC nations will not agree on a common policy. With an excess supply of 1-2 million barrels every day, the prices fell 70% since mid-2014.