Oil is getting whacked even after OPEC agrees to extend production cuts

Crude oil tumbled on Thursday even after OPEC and its allies extended their agreement to lower production by nine months.
The Organization of Petroleum Exporting Countries — a cartel of major oil producers — extended the deal that started in January to address the global supply glut that has subdued prices. Non-OPEC producers including Russia also agreed to cut production through March, said Bijan Namdar Zanganeh, Iran’s minister of petroleum, according