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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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Source: Bloomberg Global Business - < > Embed

News video: Oil Surges as OPEC Reaches Deal

Oil Surges as OPEC Reaches Deal 01:53

Nov.30 -- Oil soared after OPEC agreed to its first output cut in eight years. The deal was also broader than many had expected, extending beyond cartel members. Bloomberg's Richard Stubbe reports on "Bloomberg Daybreak: Asia."

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