OPEC agrees on to cut its oil output for the first time since 2008.

OPEC nations have reached a preliminary agreement to curb oil production for the first time since the global financial crisis eight years ago. Image: Qatar's Energy Minister Mohammed Saleh Abdulla Al Sada (Getty Images)

The deal is part of an effort to reduce a global glut of crude oil that has depressed oil prices for more than two years and weakened the economies of oil-producing nations