Updated: OPEC agrees on oil output cuts as Saudis soften stance on Iran

OPEC clinched a deal to curtail oil supply, confounding skeptics as the need to clear a record global crude glut — and prove the group’s credibility — brought its first cuts in eight years. Crude rose as much as 8.8 percent in London. OPEC will reduce output to 32.5 million barrels a day, Iranian Oil […]