Overnight news on the cut, which reverses the output increase agreed to just last month:
The cut agreed to comes with Saudi Arabia and other OPEC members concerns on prices that were falling despite what appear to be quite strong fundamentals.
OPEC+ appear to be committed to propping up the oil price (which is pretty much their reason for existence). 100k /day is neither here nor there in this 100mn bbl/day market, hence the 'symbolic' in the headline.
More at that link.
