OPEC agrees first collective production cut in eight years

摘要

Following a sustained period of low oil prices and a series of failed negotiations, the world's major oil exporters have finally agreed to cut oil production levels. The Organisation of the Petroleum Exporting Countries (OPEC) reached a deal at its meeting Vienna in November to cut production by limn barrels of oil per day (b/d) to around 32.5mn b/d for six months from the start of January 2017. There is also an option to extend the agreement until the end of 2017.