You're reading: Associated Press: OPEC nations, Russia agree to cut oil output to lift prices

The OPEC oil-producing countries and ally Russia said Dec. 6 they have agreed to cut their crude production by an extra 500,000 barrels a day as they try to support global energy prices.

The decision came after long discussions at the OPEC headquarters in Vienna. The group’s goal is to to support the price of energy. But they also do not want to lose global market share to the United States, which keeps pumping more oil.

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