The big news in markets this morning is that OPEC has agreed to a preliminary deal to cut production After endless hours of discussion in Algeria, Opec reached a consensus that a reduction in oil production is necessary Market share continues to be the contentious issues despite Opec member countries agreeing on a production limit of 32.5mn to 33mn barrel per . A subcommittee will be formed to iron out the details , so market exuberance will likely be tempered until the November OPEC meeting. Ultimately this move should provide a near-term floor on Oil and s should be a stabilizing factor especially for downside ... (full story)