OPEC tentatively agrees oil cut, waits for Russia to commit
Thursday, 6 December 2018 () OPEC tentatively agreed an oil output cut on Thursday but was waiting for a commitment from non-OPEC heavyweight Russia before deciding the exact volumes for a production reduction aimed at propping up crude prices, two sources from the group said.
According to Reuters, oil prices rallied after OPEC agreed to reduce output.
On the day, Brent crude oil rose almost $3 to $63.00 a barrel, while West Texas Intermediate gained $2.20, rising to $53.69..
According to Reuters, OPEC and its Russia-led allies moved closer on Friday to clinching a deal that would cut oil production by more than the market had expected. The producer club will curb output by..
According to Business Insider, OPEC+ and Russia have agreed to cut production by 1.2 million barrels, reducing tensions around crude oil prices after two days of fractious discussion in Vienna. Brent..
OPEC tentatively agreed an oil-output cut on Thursday but was waiting to hear from non-OPEC heavyweight Russia before deciding the exact volumes for a production... Reuters - BusinessAlso reported by •Reuters India •Haaretz •WorldNews •Wall Street Journal
The wait for Moscow signals how much OPEC has changed since 2016 when Saudi Arabia and Russia ended their historic animosity and started to manage the oil market... WorldNews - Front PageAlso reported by •Seattle Times •Wall Street Journal
Brent oil futures edged higher on Friday after Russia seemed likely to contribute a bigger output cut to an OPEC and non-OPEC deal, but Saudi Arabia voiced... Reuters - BusinessAlso reported by •Seattle Times
Oil prices crashed early Thursday, as OPEC failed to reveal a solid agreement in Vienna, at least not yet. After hours of meetings, OPEC cancelled its news... OilPrice.com - MarketsAlso reported by •Reuters •Seattle Times