Coinspeaker Oil Prices Surge as OPEC and Allies Agree to Cut Oil Production amidst Slowing DemandUltimately, the OPEC+ nations have reached an agreement to cut down oil production and stabilize the falling crude prices. The coronavirus pandemic has given a major blow to the oil markets with global consumption falling drastically in the last two months.Oil Prices Surge as OPEC and Allies Agree to Cut Oil Production amidst Slowing Demand