THAT’S MORE MARKET SHARE FOR NORTH AMERICAN FRACKERS: OPEC and non-OPEC nations agree on 1.2M barrel per day production cut.

The Organization of Petroleum Exporting Countries, which starting in January will have 14 members after Qatar pulls out, will be responsible for reducing 0.8 million barrels per day. Participating non-OPEC members, of which Russia is the biggest producer, will reduce 0.4 million barrels, it added.

Saudi Arabia and Russia are two of the world’s three biggest producers. The United States, the world’s biggest crude oil producer, did not participate in the talks.

Huh. It’s almost as though the White House figures we can drill our way to lower prices.