Saudi to cut oil output in July as OPEC extends deal into 2024
- 05-Jun-2023
VIENNA: Saudi Arabia will make deep production cuts in July as part of a broader output-limiting OPEC+ deal as the group faces flagging oil prices and a looming supply glut. Saudi Energy Minister Prince Abdulaziz said the cut of 1 million barrels per day (bpd) by Riyadh could be extended beyond July if needed. “This […]
OPEC, Russia agree to slash oil output despite Trump pressure
- 07-Dec-2018
VIENNA: OPEC and its Russia-led allies agreed on Friday to slash oil production by more than the market had expected despite pressure from U.S. President Donald Trump to reduce the price of crude. The producer club will curb output by 0.8 million barrels per day from January while non-OPEC allies contribute an additional 0.4 million […]