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OPEC Reaches Deal To Cut Oil Output
ResumeOil prices rose today as members of the Organization of the Petroleum Exporting Countries, or OPEC, struck a deal that would cut production by more than a million barrels a day, about 1 percent of global output.
This is the first OPEC agreement limiting oil output since 2008 and comes after OPEC's largest producer, Saudi Arabia, has been hesitant to cut production — as has Iran.
Here & Now's Jeremy Hobson speaks with CNN's Maggie Lake (@MaggieLake) about the deal and President-elect Donald Trump's picks for treasury and commerce secretaries.
This segment aired on November 30, 2016.