Details of the OPEC decision and highlights from the press conference
Cut will be effective from January and last six months
Notes uncertainty about global economic growth
Next meeting will be in Vienna in April
Non-OPEC will cut 400K bpd
Total cut to be 1.2 mbpd
Novak says production cuts should help oil market rebalance quicker
Novak: Oil market situation is 'challenging'
Some countries will be given an exemption -- Iran, Venezuela and Libya
Al-Falih says Saudi January allocation will be 10.2 mbpd, Dec output will be around 10.7 mbpd
Many customers have loaded up on inventories on expectations of strict sanctions on Iran and those were loosened, now demand is lower as they use some of those inventories