Opec says winning battle to curb oil glut

Output cuts by Opec and other oil producers are clearing a supply glut that has weighed on crude prices for three years, ministers said at a meeting on Friday to review the pact that expires in March 2018. The Organization of the Petroleum Exporting Countries, Russia and several other producers have cut production by about 1.8-million barrels per day (bpd) since January.