OPEC decided on Thursday to extend cuts in oil output by nine months to March 2018 as the producer group battles a global glut of crude after seeing prices halve and revenues drop sharply in the past three years. The extended reductions are likely to be carried out once again in tandem with a dozen non-members led by top oil producer Russia, which reduced output with the Organization of the Petroleum Exporting Countries from January. OPEC's cuts have helped to push oil back above $50 a barrel this year, giving a fiscal boost to producers, many of which rely heavily on energy revenues and have had to burn through ... (full story)