The OPEC deal might not be a game-changer for the Saudis
OPEC finally agreed to cut output during its meeting in Vienna on Wednesday.
This marks the cartel's first cut since 2008 and reverses its two-year strategy of pumping as much oil as desired.
The cut is intended to end the global oil glut, which has kept prices depressed for over two years.
The Saudis will bear the brunt of the cut, reducing output by 500,000 barrels per day, to about 10.1 million bpd, according to Reuters.
Iraq will reduce output by 200,000 bpd, to 4.4 million bpd, beginning in
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