On Wednesday, the Organization of the Petroleum Exporting Countries (OPEC) decided to cut crude production, which will trigger a rise in oil prices, thus bolstering the strength of banks.
OPEC stated it would cut production by 1.2 million barrels a day from 33.6 million barrels, catalyzing an 8% rise in crude prices. The organization also stated that other countries were expected to follow suit’ those extra cuts could amount to 600,000 barrels a day.
.png)
.png)
