LME Copper prices traded higher by 2.1 percent yesterday as the Organization of the Petroleum Exporting Countries reached a deal to reduce their oil production by 1.2 million barrels per day in order to raise global prices. earlier yesterday, a bout of optimism was seen after Saudi Energy Minister Khalid al-Falih said OPEC was focusing on reducing output to a ceiling of 32.5 million barrels per day, or cutting by more than 1 million bpd, and hoped Russia and other non-OPEC members would contribute a cut of another 0.6 million bpd. MCX copper prices traded higher by 0.8 percent to close at Rs.395.8 per kg on Wednesday.
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