The OPEC nations have agreed their first cut in production since 2008- live from the OPEC conference in Vienna by energy expert Peter Bild

The OPEC nations have agreed their first cut in production since 2008. The alliance of oil production companies have agreed to reduce production by around 1.2 million barrels a day, with Saudi Arabia set to shoulder the biggest portion of the cut, as well as agreeing to accept Iran continuing to produce at its pre-sanction level. Simon Rose was joined live from the OPEC conference in Vienna by energy expert Peter Bild.