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OPEC and Russia oil cut deals promise to address supply glut

OPEC and Russia oil cut deals promise to address supply glut
By Euronews

<p>Faced with a supply glut that has dramatically pushed down prices, oil producing countries from around the world have pledged to cut output and to “rebalance the market”. </p> <p>It is a big deal because it is the first such agreement in over a decade between <span class="caps">OPEC</span> and the countries that are not cartel members, however it does not include several big energy producers, particularly the US shale producers.</p> <p>This edition of Business Line considers the details and what it could mean for oil prices.</p>