OPEC and its ally Russia have agreed an extra production cut of around 500,000 barrels a day in an attempt to keep crude prices up. Friday's deal came after a marathon session on Thursday.
After protracted discussions, the oil-producing nations have agreed to cut 500,000 barrels a day. However, it is uncertain whether this will significantly raise prices, as non-member countries continue to pump oil.
Following two days of tense talks in Vienna, a deal to reduce oil production has been struck by OPEC and Russia. Prices have already risen on the back of the news, but Donald Trump will not be pleased.
Donald Trump wants Riyadh to keep pumping oil to keep global prices low, a tactic that pleases his blue-collar base at home. But the Saudis may balk at opposing other OPEC members ahead of a key meeting of the cartel.
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