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Oil Stocks Jump on Monday: Here's Why

Oil Stocks Jump on Monday: Here's Why

Oil stocks had a great day on Monday with some climbing over 10%. The big news came from OPEC+, which is reportedly considering cutting back oil supply by over 1 million barrels per day in what's being called a "historic cut." Transocean (NYSE: RIG) jumped as much as 8.9%, Kosmos Energy (NYSE: KOS) rose 11.6%, and Tellurian (NYSEMKT: TELL) traded 10.8% higher.