OPEC has agreed to a production cut for the first time since 2008. Oil prices jumped over 8 percent on the news.
Four of the six participants, Saudi Arabia, the UAE, Bahrain and Oman did not send their heads of state. At the same time, the UAE and Saudi Arabia announced a new bilateral agreement.
The 14 members of the cartel have decided to extend oil output cuts until the end of 2018 under efforts to curb a global glut of crude. OPEC also said it could exit the deal earlier if the market overheats.
France's Emmanuel Macron on a trip to Riyadh has called for deescalation of tensions with Tehran as crises in Yemen and Lebanon boil over. Saudi Arabia, UAE and Kuwait urged their citizens to leave Lebanon.
Arab foreign ministers have slammed Iranian interference in the Middle East. Arab states sought to present a united front as regional rivalries in Yemen, Syria and Lebanon heat up.
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