Business
OPEC cuts oil production by 1.2 million barrels to offset price
8 years ago(LtoR) Russian Minister of Energy of Russia Alexander Novak, Organization of the Petroleum Exporting Countries' (OPEC) President UAE Energy Minister Suhail al-Mazrouei and OPEC Secretary General Mohammed Sanusi Barkindo of Nigeria speak during a ministerial level meeting during with OPEC members and non members during the 175th OPEC Conference on December 7, 2018 in Vienna, Austria. (Photo by JOE KLAMAR / AFP)
The Organisation of Petroleum Exporting Countries (OPEC) and other major oil producers yesterday agreed to cut about 1.2 million barrels of oil to address falling oil price, which is currently…