Here's What Analysts Are Saying About the OPEC Deal

OPEC's surprise agreement to cut oil production — for the first time in eight years — buoyed crude oil prices, amid signs the coordinated action would help to reduce supply in the market.

The move is a marked departure from the strategy championed by Saudi Arabia over the past two years to keep production volumes flat so it can maintain market share and exert pressure on U.S. shale producers whose pumping has helped contribute to the supply glut. The oil-price downturn is crimping the finances of the Kingdom, increasing its fiscal incentive to forge a deal.