Post-OPEC Deal: Oil price stability raises hope for budget benchmark
Hopes that the 2019 federal budget oil price benchmark would not be completely eroded appears strengthened as oil prices sustain stability days after output cut by members of the oil producing nations’ cartel, the Organisation of Petroleum Exporting Countries, OPEC, and their allies inked the papers to reduce output and starve off glut. The global benchmark, Brent crude for February delivery, yesterday sold for $61.25 a barrel.
