Houston oil stocks soar on OPEC news

Houston oil company stocks surged Wednesday following news that OPEC brokered a groundbreaking deal to cut oil production, adding kick to the slow U.S. energy recovery.

A RECORD DAY: OPEC deal gives oil best day in seven years

The Organization of the Petroleum Exporting Countries agreed to cut production by 1.2 million barrels a day during a meeting Wednesday in Vienna. It’s the cartel’s first cut in eight years, and ended up much deeper than the 750,000 barrels a day first suggested in September.

The news drove U.S. crude prices up 9 percent and stock prices up — at times by double-digits — among Houston oil companies.

ON THE MOVE:  ConocoPhillips leaving Energy Corridor headquarters

Highlights: EOG Resources rose $10 or about 11 percent to $103. Anadarko Petroleum Corp. leaped $8 or 13 percent to $68. Marathon Oil Corp. jumped 21 percent or $3 to $18.

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