OPEC+ considers output-limit cut of as much as two million barrels a day
OPEC+ is considering its biggest production cut since 2020, a move Washington is trying to head off with furious diplomatic efforts.
Production cuts
OPEC+ members disparate on pledges to keep supply steady, study suggests
Most OPEC+ members increased oil exports in February despite pledges by the cartel to keep supply steady.
Saudis curb oil supply to some buyers after vow to pump less
Saudi Arabia reduced crude oil supplies to at least 11 refiners in Asia and most buyers in Europe after the kingdom volunteered to cut its production by 1 million barrels a day for February and March.
Brent oil hits $55 with Saudi cuts adding fuel to vaccine rally
Brent oil topped $55 a barrel for the first time since February as gains in broader markets added to investor optimism already buoyed by Saudi Arabia’s unilateral plan to cut output.
Oil prices steady after surging on surprise Saudi output cut
Oil steadied in Asia after surging to a 10-month high on Saudi Arabia’s pledge to cut an extra 1 million barrels a day of crude output in February and March as a rampant coronavirus leads to more lockdowns.
OPEC defers decision on oil production cuts to June
Oil traded near a four-month high as OPEC and its allies met in Azerbaijan Monday and recommended deferring a decision on whether to extend production cuts until June.