Shares of Halcon Resources Surge on OPEC Announcement

Shares of Halcon Resources (NYSE: HK) were up 12% this morning and have settled to 6.6% as of this writing at noon EST today. While there was no distinct news from the company, the move is largely predicated on the recent OPEC meeting announcement.

In the oil and gas industry, when OPEC talks, stocks listen. Earlier today at an OPEC meeting, the organization announced a tentative agreement to keep its current production levels through the rest of 2018 in order to maintain oil prices. As it stands, a barrel of Brent crude -- the international benchmark price for crude -- was $63.50 a barrel.

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Source: Fool.com