VIENNA (Sputnik) — Oil-rich OPEC and non-OPEC countries struck a historic deal on Saturday to reduce oil output, OPEC Conference President Mohammed Bin Saleh Sada announced.
"We are glad to announce the conclusion of a historic agreement," the rotating president of the world’s largest group of oil producers said.
OPEC countries will reduce production by 1.2 million barrels a day to 32.5 million barrels starting in January, while non-OPEC countries will slash theirs by at least 558,000 barrels a day.
