OPEC Countries, Russia to Cut Oil Output, Pushing up Prices
The OPEC oil-producing countries and ally Russia have agreed to cut crude production by an extra 500,000 barrels a day.
Their goal is to support the price of fuel and energy around the world.
But at the same time they do not want to lose global market share to the United States, which keeps pumping more oil.
Friday's decision came after long talks at the OPEC headquarters in Vienna.
Russia is not part of OPEC but has been coordinating production levels with the cartel in recent years.