Oil rallied over $4 per barrel on Wednesday after OPEC unexpectedly decided to leave production levels unchanged

The price of oil rallied over $4 per barrel on Wednesday after OPEC unexpectedly decided to leave production levels unchanged following a meeting that ended in “disarray,” according to the Associated Press.

Oil climbed from near $98 to as high as $101.89 per barrel follow OPEC’s meeting in Vienna, Austria. The price of oil pared its gains in afternoon trading, but remained considerably higher, by 1.7% at $100.78 per barrel.

OPEC officials announced that because of a policy deadlock, the group will maintain present output ceilings, but keep open the option of another meeting within the next three months to consider a production increase.