FRANKFURT, Germany (AP) — Members of oil producer cartel OPEC and allied countries have agreed to leave most of their existing oil production cuts in place. OPEC countries led by Saudi Arabia joined with non-members led by Russia to reach the deal in an online meeting Thursday. Most significantly, one million barrels per day in voluntary cuts from Saudi Arabia will remain in place at least through April. The decision pushed the price of crude oil sharply higher in global markets. The U.S. contract spiked 5.6% higher to $64.70 a barrel.
