OPEC and allies pledge to keep oil production steady | Money Talks

Oil prices have risen to 11-month highs after OPEC and its allies reached an agreement to keep output steady through March. They made the decision to bolster prices, as the return of lockdowns around the world threatens to further reduce demand for crude. Saudi Arabia has agreed to make additional cuts to its production of 1-million barrels per day in February and March. That's the equivalent of about 1-percent of the world's oil supply. Russia and Kazakhstan will increase their production by a combined 75-thousand barrel per day.

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