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OPEC Agrees on Oil Output Cuts in Drive to End Record Glut


AzCactus
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Here's the cuts by country

 

http://www.opec.org/opec_web/static_files_project/media/downloads/press_room/OPEC%20agreement.pdf

 

This agreement has been reached following extensive consultations and understanding reached with key non-OPEC countries, including the Russian Federation that they contribute by a reduction of 600 tb/d production.

 

So 1.2 mmbbl/d from OPEC and another 600k from non-OPEC cooperating countries, presumably most of that from Russia.

 

Won't hold my breath that they stick to it but for now it's bullish.

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