Oil producers join forces and cut production again

  • Khalid Al-Falih Minister of Energy, Industry and Mineral Resources of Saudi Arabia speaks prior to the start of a meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, Austria, Thursday, Dec. 6, 2018. (AP Photo/Ronald Zak)

VIENNA — Oil prices spiked sharply higher Friday as major oil producers, including the OPEC cartel, agreed to cut global oil production by 1.2 million barrels a day to reduce oversupply.

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