In First Major Agreement Since 2008, OPEC Makes Deal To Curb Output05:41
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Participants attend the opening session of the 15th International Energy Forum in Algiers on Sept. 27, 2016. (Ryad Kramdi/Getty Images)
Participants attend the opening session of the 15th International Energy Forum in Algiers on Sept. 27, 2016. (Ryad Kramdi/Getty Images)
This article is more than 3 years old.

OPEC member countries have agreed to curb output, aiming to reduce the glut of oil on global markets.

It's the first major agreement by the group since 2008. Crude oil prices surged more than 5 percent on the news yesterday. But the deal is still not finalized.

Here & Now's Jeremy Hobson speaks with business journalist Ali Velshi about the expected impact and importance of the deal.

Guest

Ali Velshi, business journalist. He tweets @AliVelshi.

This segment aired on September 29, 2016.

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