Brent oil rose 2 per cent to more than $64 a barrel after the announcement.
The group decided to cut output by an extra 500,000 barrels a day as they try to support the price of energy and bolster their revenues. But the decision was not easy: they do not want to hand over too much business to the United States, which keeps pumping more oil and flooding the market.
MCX Gold has support at Rs.37940 – 37750 whereas resistance is at Rs.38130 – 38290.
West Texas Intermediate oil futures fell 9 cents to $58.34 a barrel.
Refined soya oil prices on Friday rose 0.93 per cent to Rs 848 per 10 kg in futures trade.
Karnataka, Rajasthan, Tamil Nadu are states with the highest renewable energy potential in the country. Their installed renewable energy capacities are either higher than coal power or are on a path to overtake it.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5 per cent.
Australian shares rose 0.2 per cent and South Korea's Kospi climbed 0.8 per cent, while China's Shanghai Composite and Hong Kong's Hang Seng indexes gaining 0.1 per cent and 0.9 per cent, respectively.
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