Oil Prices Soar on Hints from OPEC That Production May be cut

The OPEC Secretary General indicates the oil producing nations can reach some kind of deal to cut production.
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The OPEC Secretary General indicates the oil producing nations can reach some kind of deal to cut production. Oil has been all over the place in the past week or so, depending on each bit of news from the oil producing nations of OPEC. Brent crude has rallied as much as 6% this morning. OPEC is meeting today in Vienna, Austria. Former Goldman Sachs Banker Steven Mnuchin is President-elect Donald Trump's choice for Treasury Secretary. In that position, Mnuchin would be the face of the U.S. economy to the world. Trump has also named billionaire investor Wilbur Ross as his choice for Commerce Secretary. Both need Senate confirmation. Air conditioner plant Carrier says it will keep 1000 jobs at its Indiana plant, about half the jobs it had planned to move to Mexico. The Wall Street Journal says the company will receive new government incentives.