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G.M. had already announced that it would trim production in the quarter.
The representatives of Algeria, Venezuela, Iran and Indonesia all agreed about a need to trim production further.
Cocoa futures rose to a three-month high on concern that dry weather might trim production in Ivory Coast.
The decision, which goes into effect on Tuesday, followed promises by rivals Russia, Norway and Mexico to also trim production.
The Saudi proposal to trim production roughly 7percentt is a compromise; the delegates have been discussing cuts of possibly 5 to 10percentt since the conference began.
Meeting for a record seventh time this year, OPEC agreed to trim production by 1.5 million barrels a day to bolster prices.
Similar(35)
I think GM would be better off if it trimmed production, moved away from incentives and put more emphasis on product appeal, quality and customer service.
His innovation was in pruning the PC supply chain and trimming production costs to undercut his competitors on price.
General Motors, Ford Motor and DaimlerChrysler sold fewer new cars and trucks in November, and trimmed production to reduce inventories.
Other studios are cutting back on a smaller scale: DreamWorks, Disney and New Line Cinema have all said they will be trimming production this year by a few films.
DaimlerChrysler A.G. said today that it was trimming production, at least temporarily, of its Jeep Grand Cherokee midsize sport utility vehicle.
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