Brent, the global benchmark, rose 2.7% to $61.67 a barrel. The Organization of the Petroleum Exporting Countries along with Russia and its allies reached deal to reduce supply in a move aimed at reinvigorating prices after sharp selling in recent months. Your browser does not support HTML5 video. 0:00 / 0:00 Skip Ad in 15 The cartel is struggling to convince markets that it can stabilize oil prices. WSJ’s Sarah Kent takes a look at the current state of OPEC’s power. The news alleviated some pressure on the oil market, which has fallen about 30% from its October highs on a burgeoning supply glut and record crude production. Pessimistic briefings from OPEC chiefs Thursday had dampened expectations of a deal . Prices fell sharply Thursday and stayed lower Friday morning on remarks from various OPEC members that the cartel faced obstacles in its attempts to boost prices, including from […]