www.bbc.com/news/business-38155185 "The oil cartel Opec has agreed its first supply cut in eight years in order to boost the price of oil. Mohammed Bin Saleh Al-Sada, Opec's president, said a cut of 1.2 million barrels a day would start from January. It comes after more than two years of depressed oil prices, which have more than halved since 2014, due to a supply glut on the market. The price of Brent crude jumped 10% to $51.94 a barrel, and US crude rose 9% to $49.53. In addition to the production cut by Opec members, non-Opec countries will be expected to reduce production by 600,000 barrels a day, according to Mr Al-Sada."