Oil jumps 8 percent as OPEC agrees first production cut since 2008

By Karolin Schaps and Amanda Cooper LONDON (Reuters) - Oil prices jumped more than 8 percent on Wednesday to a five-week high as some of the world's largest oil producers agreed to curb oil output for the first time since 2008 in a last-ditch bid to support prices. U.S. West Texas Intermediate (WTI) crude futures were $3.66 higher at $48.89 a barrel, a one-week high. The Organization of the Petroleum Exporting Countries has agreed its first output limiting deal in eight years, an OPEC source tol