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Saudi Arabia to cut oil output

Saudi Arabia to cut oil output

During negotiations with Russia and OPEC nations, Saudi Arabia announced it will cut production by 1 million barrels a day, during February and March. OPEC+ nations will maintain current output. Russia and Kazakhstan will slightly increase production.

woodchuck 00
woodchuck 00
woodchuck 00
woodchuck 00 3 months

This is not a gesture a good will. Gas is really cheap right now in Saudi Arabia wants more profit. Increase the cost by decreasing the supply.

Silence Dogood
Silence Dogood 3 months

Eddy...when we start using less. Put this way.. oil is an open market traded commodity worldwide...if 1 million fewer barrels are put into the "pool of oil" that is sold everyday, then the price goes up because demand is steady. Supply and demand 101..who sell or buys the oil is largely irrelevant.

Edward
Edward 3 months

OPEC at it again. When will we stop replying on foreign oil?

Indo
Indo 3 months

The on today off tomorrow saga. They got alternative for it yet !?

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