OPEC's decision to cut production immediately boost oil prices, but the bump will not likely impact US consumers.
The international cartel agreed to cut output by 1.2 million barrels a day.
If the member nations follow through on the production cut, global oil production may fall by 1-percent.
The agreement led to a rally of 12-percent for oil prices over two days, raising the price per barrel over $50.
Crude has traded between $40 and $50 a barrel the last several months.