Pakistani attendants fill vehicles at a gasoline station in Islamabad.
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The Organization of Petroleum Exporting Countries' agreement to cut production ends two years of Saudi Arabia's pump-at-will policies, which had sunk oil prices to the joy of drivers in the Western world and the consternation of central bankers seeking to stave off deflation.OPEC can't control the 60 percent of world production outside its membership and earlier accords have fallen apart.Non-OPEC producers: Countries such as Russia and Mexico will see oil prices rise, even though they aren't part of the agreement to trim production.Low oil prices have stood in the way of those objectives.U.S. shale producers: All depends on whether the accord leads to a lasting increase in prices.The Bloomberg World Airline Index was down 0.6 percent today, with Deutsche Lufthansa AG off 2.9 percent and Ryanair Holdings Plc falling 2.4 percent.
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