11 non-OPEC nations that will cut crude output in January

In the first deal of its kind since 2001, a group of heavyweight oil producers outside of the Organization of the Petroleum Exporting Countries (OPEC) agreed over the weekend to cut production by 558,000.

The reduction would come along with OPEC’s cut of 1.2 million barrels per day (bpd) as agreed in late November.

With Russia slashing its output the most by 300,000 bpd, the below non-member countries will cut their output during the first half of 2017 in a deal that could be extended.