- The deal brokered at talks in Vienna was achieved after OPEC's largest producer Saudi Arabia gave ground and agreed that Iran — still recovering from trade sanctions — was a special case and would be exempted from the cuts.
- The deal will reduce output by 1.8MMbd from January 2017 and runs for 6 months, with OPEC members contributing two-thirds of the cut.
- The country — which bore the brunt of the cuts to get the deal done — will cut production by almost 0.5MMbd with the other OPEC nations chipping in 0.7MMBbd.
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