OPEC agrees to cut 1.2 million barrels a day, pleasing U.S. oil companies.

Grist
By Kate YoderDec 1, 2016, 4:53 pm121 pts
For the first time in eight years, OPEC — you know, that cartel of 14 oil-rich countries like Saudi Arabia, Iran, and Venezuela — made a deal to curb production starting in January. It’s partially a response to the worldwide glut of oil that has battered crude prices over recent years. OPEC’s profits…

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