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OPEC agrees joint 1.2mn bpd cut; Iran exempted

Member states of the Organization of the Petroleum Exporting Countries and 10 other oil producing nations have agreed to cut output by 1.2 million barrels a day.

The decision was reached after two days of intense talks in Vienna and despite opposition from US President Donald Trump's administration. The deal has exempted Iran, along with Venezuela and Libya. World media have discussed the news.


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