Oil investors have US$630b riding on Opec's big decision

London

AFTER two tough years of falling oil prices and company valuations, investors in the world's biggest energy producers have some cause for hope as crude prices continue their recovery from a 12-year low. They will be looking to Opec (Organization of the Petroleum Exporting Countries) not to dash it.

Oil companies around the world have together added US$630 billion to their market value this year, the biggest gain in six years following a 30 per cent rise in benchmark Brent crude, according to data compiled by Bloomberg. This follows a US$1.2 trillion loss in value last year and US$790 billion in 2014 as crude prices plunged.