• Oil producers join forces and cut production again

    2 days ago - By Chron

    VIENNA - Oil prices spiked sharply higher Friday as major oil producers, including the OPEC cartel, agreed to cut global oil production by 1.2 million barrels a day to reduce oversupply.
    Following two days of meetings, the Organization of the Petroleum Exporting Countries that includes the likes of Saudi Arabia and Iraq said they would cut 800,000 barrels per day for six months from January, though some countries such as Iran, which is facing wide-ranging sanctions from the United States, have been given an exemption.
    The balance will come from Russia and other non-OPEC countries. The...
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  • Saudi Arabia Sets Up a Scrappy New Year With Trump

    2 days ago - By Washington Post

    Its OPEC-plus production cut shows its economic need overpowers its fear of angry tweets.
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  • Oil prices climb on OPEC-led cuts, but off session highs

    2 days ago - By Reuters

    Oil prices jumped more than 2 percent on Friday as Saudi Arabia and other producers in OPEC, as well as allies like Russia, agreed to reduce output to drain global fuel inventories and support the market.
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  • High Five At OPEC: Russia And Saudi Arabia Agree 1.2Mbd Production Cut

    2 days ago - By Forbes

    What does the recent OPEC+ output agreement mean for Saudi-Russia relations?
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  • Oil Prices Jump After OPEC Agrees To Bigger-Than-Expected Production Cut

    Oil Prices Jump After OPEC Agrees To Bigger-Than-Expected Production Cut

    2 days ago - By NPR

    Ignoring pressure from President Trump to keep the oil flowing, OPEC, Russia and other producers have agreed to cut production. They hope to stem a 30 percent drop in oil prices in recent weeks. (Image credit: Joe Klamar/AFP/Getty Images)
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  • OPEC and Allies, Defying Trump, Agree to Cut Oil Output to Prop Up Prices

    2 days ago - By NY Times

    The organization and other oil-producing countries, chiefly Russia, reached a deal to reduce worldwide oil production by 1.2 million barrels a day - more than had been expected.
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  • OPEC, Russia agree to slash oil output despite Trump pressure

    2 days ago - By Reuters

    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.
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  • OPEC and Russia agree to cut oil production and boost market

    2 days ago - By ETF Daily News

    From Tom DiChristopher & Sam Meredith : Major oil producers have reached a deal to cut oil production and boost the market.
    The alliance will take 1.2 million barrels per day off the market.
    OPEC has agreed to exempt Iran from cutting production, Iranian Energy Minister Bijan Zangeneh said.
    Major oil producers have reached a deal to cut oil production and boost the market, following two days of grueling negotiations and despite opposition from U.S. President Donald Trump .
    OPEC clinched the deal with allied oil-producing nations including Russia at its headquarters in Vienna, Austria on...
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