NEW YORK - Oil soared on Jan. 28 after a Russian official said Saudi Arabia had proposed that oil-producing countries cut output by up to 5 percent each amid a massive supply glut in the world market that has depressed prices for a year and a half.
Reuters: Oil soars toward $34 on possible production cuts
A woman uses her mobile phone as she stands in front of a screen showing stock market movements at the office of the Moscow stock exchange, on Jan. 11.
