OPEC agrees first output cut since 2008, Saudis to take 'big hit'

VIENNA (Reuters) - OPEC has agreed its first limit on oil output since 2008, sources in the producer group told Reuters, with Saudi Arabia accepting "a big hit" on its production and agreeing to arch-rival Iran freezing output at pre-sanctions levels.

from Reuters: Top News http://uk.reuters.com/article/uk-opec-meeting-idUKKBN13P0JR?feedType=RSS&feedName=topNews