Global deal to cut oil output in sight after Mexico signs up

Such a deal would be unprecedented both in its size and the number of participating countries, many of whom have long been bitter rivals in the energy industry. File picture.

Opec and nations including Russia have agreed to boost oil prices by cutting as much as 10 million barrels a day in production.

Even more countries, including the United States, were discussing their own cuts in what would be an unprecedented global pact to stabilise the market.