According to Reuters, OPEC oil output fell in November by 300,000 barrels per day, to its lowest levels since May of 2017. Pressured by a drop in Angolan and Iraqi exports, the decrease in bpd output comes as OPEC countries comply to a supply-cut-agreement. The Organization of Petroleum Exporting Countries is reducing output by about 1.2 million bpd as part of a deal with Russia and other non-member producers, which have also committed to production cuts.