OPEC agrees oil output rise of 1 mn barrels: Saudi Minister
Organisation of the Petroleum Exporting Countries (OPEC) has agreed on a "nominal" increase in oil production of around 1 million barrels a day or 1% of global supply, Saudi Energy Minister Khalid Al-Falih has said. Saudi Arabia argued it was time to raise production, following calls from major consumer countries to help reduce crude price and avoid a supply shortage. 