First agreement between Opec and non-members since 2001 to jointly limit output is likely to raise prices
Oil-producing nations that do not belong to the Opec cartel have agreed to cut output by 562,000 barrels a day, Opec sources have said.
The agreement would be the first between the two groups since 2001 to jointly limit oil output. It aims to ease a global glut after more than two years of low prices that have overstretched many governments’ budgets and spurred unrest in some countries.