Expert Views – OPEC reaches first deal to cut oil output since 2008
Wednesday, 30 November 2016 LONDON The world's largest oil exporters agreed on Wednesday to cut output for the first time in eight years to erode a global supply overhang that has persisted for two years and halved the value of a barrel of crude.The Organization of the Petroleum Exporting Countries said it would agree to limit crude oil output to a maximum of 32.5 million barrels per day starting Jan. 1 for six months.
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