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OPEC Agrees to First Output Cut Since 2008 as Saudis to Take 'Big Hit'

Newsmax Wednesday, 30 November 2016
The Organization of the Petroleum Exporting Countries has agreed its first oil output cuts since 2008, an OPEC source told Reuters on Wednesday.
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News video: Oil rallies ahead of OPEC decision on output

Oil rallies ahead of OPEC decision on output 01:28

Oil prices rose 3 percent on Monday to their highest in three weeks, catching a lift from a weaker dollar, as OPEC appeared to be moving closer to agreeing an output cut when it meets next week. Hayley Platt reports.

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