Brent oil price hits highest level in a year

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London | Published: October 11, 2016 12:00:01 AM

Brent North Sea crude rose to USD 53.45 a barrel today - its highest price in a year after President Vladimir Putin indicated Russia was ready to join measures to limit global oil production.

President Vladimir Putin indicated Russia was ready to join measures to limit global oil production. (Reuters)President Vladimir Putin indicated Russia was ready to join measures to limit global oil production. (Reuters)

Brent North Sea crude rose to USD 53.45 a barrel today – its highest price in a year after President Vladimir Putin indicated Russia was ready to join measures to limit global oil production.

At around 1453 GMT, the price hit USD 53.45 – a USD 1.53 increase from today. It was the highest level reached since October 2015, when it was at USD 54.05 a barrel.

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