Brent crude oil prices rose above $55 a barrel on Monday, trading at a fresh 16-month high, as optimism spread about the prospect of a tightening market after .
Today crude prices are soaring on the back of OPEC deal. On December 10, during an unofficial meeting in Vienna crude exporting countries agreed on a .
Oil prices shot to their highest levels since mid-2015 on Monday after producers reached their first deal since 2001. Russia and 10 other non-OPEC members .
Opecs surprise decision to cut oil production by 1.2 million barrels per day has boosted the crude oil price. Financial columnist Edmund Shing asks whats next .