Economy needs higher oil prices: Goldman Sachs

By: Mick Cunningham,

GTY 509834848 A FIN USA OKOPEC is closing in on a deal to cut production, which will surely cause oil prices to rise. Oil is already almost back to $50 per barrel, so cuts of nearly 1 million barrels per day could boost prices well into the mid-$50s, even up towards $60 per barrel. That will provide a windfall to oil producers around the world and the sacrifice for OPEC members will be more than paid for by higher revenues.  Read the whole story.

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