Oil breaks through $60

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THE PRICE of oil is ris­ing as traders look for an OPEC-led pro­duc­tion cut to be ex­tended beyond its cur­rent ex­piry date of next March through the whole of 2018.

The in­ter­na­tional bench­mark Brent opened above $60 per bar­rel on 30 Oc­to­ber – close to its high­est level since July 2015.

This could help make the div­i­dends on of­fer from BP (BP.) and Royal Dutch Shell

(RDSB), cur­rently yield­ing 5.9% and 6% re­spec­tively, more se­cure.

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