Business
ASX 200 drops 1.1%
The S&P/ASX 200 Index (ASX: XJO) dropped by 1.1% today to 6,607 points.
Over in US political news, it seems the US Democratic Party is poised to win the US senate with wins in Georgia.
Here are some of the highlights from the ASX:
Oil rises
The oil price rose after it was reported that Saudi Arabia is going to cut oil production. According to reporting by various media, such as the Australian Financial Review, Saudi Arabia is going to cut 1 million barrels of oil a day of production.
This caused the oil price to rise by around 5% to a 10-month high because the global oil market will receive less supply than what was expected.
The best-performing business ASX 200 share was Oil Search Ltd (ASX: OSH). The Oil Search share price went up by…
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