28-09-2016 22:38 via uk.news.yahoo.com

OPEC agrees modest oil output curbs in first deal since 2008

By Rania El Gamal, Alex Lawler and Vladimir Soldatkin ALGIERS (Reuters) - OPEC agreed on Wednesday modest oil output cuts in the first such deal since 2008, with the group's leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices. "OPEC made an exceptional decision today ... After two and a half years, OPEC reached consensus to manage the market," said Iranian Oil Minister Bijan Zanganeh, who had repeatedly clashed with Saudi Arabia during previous
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