OPEC+ agrees to redistribute oil cuts under Saudi pressure

OPEC+ will adjust its output target and redistribute production cuts between its members under pressure from Saudi Arabia, which has long carried an outsized share of the burden......»»

Oil producers in the OPEC+ group, led by Saudi Arabia and Russia, were expected to pressure Mexico on Friday to seal an accord for a collective cut in output of 10 million barrels per day, before asking other nations for a further 5 million bpd of cuts......»»

Oil producers in the OPEC+ group, led by Saudi Arabia and Russia, were expected to pressure Mexico on Friday to seal an accord for a collective cut in output of 10 million barrels per day, before asking other nations for a further 5 million bpd of cuts......»»

Russia has agreed with Saudi Arabia to extend by six to nine months a deal with OPEC on reducing oil output, Russian President Vladimir Putin said, as oil prices come under renewed pressure from rising U.S. supplies and a slowing global economy......»»

Russia has agreed with Saudi Arabia to extend by six to nine months a deal with OPEC on reducing oil output, Russian President Vladimir Putin said, as oil prices come under renewed pressure from rising U.S. supplies and a slowing global economy......»»

Saudi Arabia and others in OPEC are likely to back a continuation of oil-production curbs when the group meets in April, according to officials in the cartel, in defiance of U.S. pressure to keep crude prices low......»»

Brent oil edged up to $65 a barrel on Tuesday as Saudi Arabia and the rest of OPEC were expected to stick to their production cuts, despite renewed pressure from U.S. President Donald Trump......»»

Brent oil edged up to $65 a barrel on Tuesday as Saudi Arabia and the rest of OPEC were expected to stick to their production cuts, despite renewed pressure from U.S. President Donald Trump......»»

Oil rose for a second day on Wednesday, buoyed by an unexpected decline in U.S. crude inventories and after Saudi Arabia appeared undaunted by pressure from U.S. President Donald Trump on OPEC to prevent steeper price rises......»»

Oil rallied for a second day on Wednesday, buoyed by an unexpected decline in U.S. crude inventories and after Saudi Arabia appeared undaunted by pressure from U.S. President Donald Trump on OPEC to prevent steeper price rises......»»

WTI jumped overnight after API reported a surprise crude draw and Saudi Arabia signaled that OPEC and allies will continue with production cuts despite pressure from President Trump earlier in the week. Bloomberg Intelligenc.....»»

Oil futures rose more than 2 percent on Wednesday after a surprising plunge in U.S. crude inventories and as OPEC's de facto leader Saudi Arabia appeared unfazed by pressure from U.S. President Donald Trump to prevent oil prices from rising......»»

Oil futures ended higher on Thursday, with U.S. prices at their highest since April 2019, FactSet data show. The Organization of the Petroleum Exporting Countries and its allies decided to keep its production cuts in place through April at its meeti.....»»

Oil futures rally Thursday by more than 5% after the Organization of the Petroleum Exporting Countries and its allies said they will rollover current production cuts to the end of April......»»

Oil prices rose on Monday, recovering earlier losses on news that leading exporter Saudi Arabia will reduce its output by 1 million barrels per day (bpd) on top of reductions agreed under an OPEC+ supply pact......»»

Whether or not OPEC+ oil producers formally agree to extra oil output curbs, rapidly filling storage capacity and plummeting demand due to the coronavirus crisis may force them to cut more......»»

Saudi Arabia's energy minister said on Monday that effective global oil supply cuts would amount to around 19.5 million barrels per day, taking into account the reduction pact agreed by OPEC+, pledges by other G20 nations and oil purchases into reserves......»»

Saudi Arabia's energy minister said on Monday that effective global oil supply cuts would amount to about 19.5 million barrels per day taking into account the reduction pact agreed by OPEC+, pledges by other G20 nations and oil purchases into reserves......»»

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Saudi Arabia, Russia and the U.S. agree to lead a multinational coalition in major oil-production cuts after a month-long Saudi-Russian feud and a drop in demand due to the coronavirus crisis devastated oil prices......»»