Oil prices rose for the third straight day on Thursday on hopes of the first global deal in over a decade between among oil-producing countries to help clear a glut that has depressed prices for over a year and a half. Crude had jumped as much as 8 percent after Russian Energy Minister Alexander Novak said Saudi Arabia had proposed that oil-producing countries cut production by up to 5 percent, which for non-OPEC member Russia – the world’s top producer – would represent around 500,000 barrels per day. Prices, however, pared most gains amid growing doubts over the deal to cut production by after media reports said that delegates from the Organization of the Petroleum Exporting Countries had not yet heard of any plans for talks and that Saudi Arabia had not proposed […]