Angola, as part of the arrangement with the Organisation of the Petroleum Exporting Countries (Opec) members, agreed to reduce oil production by 78,000 barrels per day, to a maximum of 1,673,000 for six months from the start of 2017.
The Organization of the Petroleum Exporting Countries (Opec) ministers will gather in Vienna, the Austrian capital today to discuss the world’s oil supply and prices.
These three things will change the world today.
The former ExxonMobil chief executive Rex Tillerson was sworn in as the Trump administration’s secretary of state last week, after having been confirmed by the Senate.
The recent Opec deal could mean state revenues are squeezed, not boosted by a rising oil price, leaving the cartel’s members facing a sharp reduction in state revenues.