OPEC, non-OPEC producers agree to cut output

OPEC and non-OPEC oil producers have agreed to cut output by 1.2 million barrels a day in order to pull prices up amid an oversupply in the market.

Dec 8, 2018 · 02:25 GMT 1 min read

OPEC Vienna

Homa Lezgee
Press TV, Vienna

OPEC and non-OPEC oil producers have agreed to cut output by 1.2 million barrels a day in order to pull prices up amid an oversupply in the market. Following intense negotiations in Vienna, OPEC finally agreed to exempt Iran from the cuts because of US sanctions. Press TV correspondent Homa Lezgee reports.