What is the implied price elasticity of demand for oil when the futures price of oil rises by 8.6% when OPEC announces an agreement that reduces production by 2%?
See http://qz.com/849133/oil-prices-are-up-8-6-after-opec-surprised-everyone-by-agreeing-to-a-deal/?utm_source=Quartz+Morning+Brief&utm_campaign=d7073aa20c-EMAIL_CAMPAIGN_2016_12_01&utm_medium=email&utm_term=0_1ff2527dbb-d7073aa20c-55459981.
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