Will the US Join Saudi Arabia, Russia to Cut Crude Oil Production?

Crude oil prices crashed into a bear market this year after Russia refused to join Saudi Arabia and other OPEC members in cutting production to trim a supply glut due to demand destruction from the COVID-19 pandemic......»»

Crude oil prices have crashed by as much as 63 percent since March 9, when Saudi Arabia slashed prices for its customers and lowered production in response to Russia's refusal to join OPEC in deepening output cuts......»»

Crude prices trade higher Monday in choppy price action, a day after major oil producers reached a historic agreement to cut oil production, ending a damaging price war between Saudi Arabia and Russia......»»

Crude prices fell Monday, a day after major oil producers reached a historic agreement to cut oil production, ending a damaging price war between Saudi Arabia and Russia......»»

Saudi Arabia, Russia and their allies will press Mexico on Friday to join an accord for collective oil production cuts equivalent to 10% of global supplies and will push the United States and other producers to remove a further 5%......»»

Oil futures climb on Thursday as investors awaited the outcome of a crucial meeting of OPEC and its allies that is expected to lead to an agreement to cut global crude production and end a price war between Russia and Saudi Arabia......»»

Saudi Arabia, Russia and allied oil producers will only agree to deep cuts to their crude output at talks this week if the United States and several others join in with curbs to help prop up prices that have been hammered by the coronavirus crisis......»»

Saudi Arabia, Russia and allied oil producers will only agree to deep cuts to their crude output at talks this week if the United States and several others join in with curbs to help prop up prices that have been hammered by the coronavirus crisis......»»

Benchmark U.S. crude fell more than 1% in early trade on Friday, coming off its biggest one-day gain in the previous session after U.S. President Donald Trump said he expected Saudi Arabia and Russia to announce a major oil production cut......»»

U.S. Treasury yields bounced off their lows on Thursday as a surge in oil prices spurred by hopes of coordinated production cuts between Saudi Arabia and Russia helped to lift inflation expectations, a bugaboo for bondholders......»»

Stocks closed higher on Thursday amid hopes that Saudi Arabia and Russia will curtail oil production, providing stability to energy markets roiled by the price war between the two crude exporters. The.....»»

As Russia and Saudi Arabia ramp up crude production, U.S. shale producers face dangerous days ahead and pressure is building elsewhere as well......»»

Oil futures see renewed pressure Wednesday after Saudi Arabia moves to increase output capacity, it’s latest move in a price wary with Russia that’s sent crude prices tumbling to four-year lows and sent shock waves through global financial markets......»»

Saudi Aramco shares fell by as much as 10% on Monday, dropping below their December listing price after Saudi Arabia and Russia said they would raise oil production in a battle for market share, sending crude prices down by a third......»»

Shares of Chesapeake Energy Corp. plummeted 11% toward a record low close of just below 21 cents, as Russia's rejection of Saudi Arabia-proposed production cuts sent crude oil prices reeling. Chesapeake's stock has now tumbled 25.1% over the past w.....»»

Oil futures end lower on Friday, pressured by a reported rift in the crude-production alliance between Saudi Arabia and Russia as concerns about the spread of COVID-19 in China and beyond take a toll......»»

Oil futures lose ground Friday, pressured by a reported rift in the crude-production alliance between Saudi Arabia and Russia as concerns about the spread of COVID-19 in China and beyond take a toll......»»

OPEC is expected to announce that the cartel will slash an additional 500,000 barrels a day from production, lowering daily global crude oil supply by 1.7 million barrels a day......»»

Saudi Arabia, the world’s largest crude exporter, doesn’t see a need for deeper cuts and markets will likely balance in the next six to nine months, Saudi Energy Minister Khalid Falih said......»»

Russia's deal with Saudi Arabia on crude production cuts shows their commitment to stabilizing the oil market, Russian Energy Minister Alexander Novak said in a statement on Saturday......»»