Markets September 29, 2016 OPEC agrees to cut production; oil prices surge Posted By: Admin agrees, OPEC, prices, production, surge OPEC agrees to cut oil production OPEC is finally agreeing to cut oil production. It would be the first time in eight years that the oil cartel would lower output. The agreement was reached on Wednesday at a meeting in Algiers. Let’s block ads! (Why?) Latest stock market news from Wall Street – CNNMoney.com