VIENNA—OPEC and its allies completed a new production pact to deepen their oil-output cuts, delegates said Friday. The 24-nation consensus coincides with the initial public offering of Saudi Arabia’s state-controlled national oil company, Aramco, and illustrates a renewed assertiveness from the alliance’s de facto leader and Saudi’s new oil minister, Prince Abdulaziz bin Salman.

Source: Wall Street Journal December 06, 2019 15:03 UTC