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ABC News
ABC News
Business
business reporter David Chau and wires

Oil prices surge after OPEC+ surprises the market with supply cuts, ASX rises to three-week high

The Australian share market has risen to a three-week high, while property prices have rebounded despite the Reserve Bank hiking interest rates for 10 months in a row.

Oil prices surged after the OPEC cartel (which includes Saudi Arabia, Iraq and other oil-producing nations) announced a surprise cut to their oil production, and Scott's Refrigerated Logistics is now in liquidation after creditors voted for the company to be wound up.

See how the trading day unfolded on our live blog.

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