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OPEC agrees to reduce oil production 1.2 million barrels per day
17:46 - 07/12/20180
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The Organization of Petroleum Exporting Countries (OPEC) and its allies agreed on Friday to cut oil production by 1.2 million bpd.
An OPEC source told Reuters that "Iran gave the organization the green light on Friday to cut output to about 0.8 million bpd in 2019."
The source added that "OPEC will later ask non-member producers to contribute to reductions by another 0.4 million barrels per day."
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