The OPEC countries managed to agree on cutting oil production by 1.2 million barrels per day, which makes 32.5 million barrels per day. However, in order to restore the market balance, OPEC will need assistance of other countries -  OPEC non-members, said the president of the organization, the Qatari Energy and Industry Minister Mohammad bin Salman Al Saud, reports RIA Novosti.

"We’ve reached an agreement, thanks to understanding and cooperation of all OPEC member states. This agreement has been signed out of responsibility in regard to the OPEC members, non-members, and for ensuring a common world economic prosperity, "he said.