OPEC agrees oil output cut

OPEC

agreed on Thursday a tentative deal to cut oil output but has not yet come up with a final figure, an OPEC delegate said.

Saudi Energy Minister Khalid al-Falih

said earlier that the Organization of the Petroleum Exporting Countries needed non-OPEC Russia to come on board with cuts.

He said a final decision by OPEC and its allies was likely by Friday evening.

Qatar leaves the OPEC while the world faces the risk of a new oil glut