Sunday, December 04, 2016

Supply Cuts? The World Is Still Awash In Oil

OPEC drives Saudi supply cuts

The effect of OPEC's deal to reduce crude output starting next month is already being felt in Saudi Arabia, the world's biggest oil market. OPEC's biggest producer - Saudi Arabia is also the world's biggest crude exporter - is planning to curb the additional crude it offers to Asia customers on top of its regular scheduled…