Saudi Arabia Hints At Further Oil Production Cuts

All options are on the table for the next summit of the OPEC+ coalition in March, including further cuts in oil production, Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, said on Thursday, Al Arabiya television reports. At the OPEC+ meeting in December, OPEC and its Russia-led partners decided to deepen the current cuts by 500,000 bpd in the first quarter of 2020, when demand is expected at its weakest for 2020. This brings total production reductions at 1.7 million bpd—that is if rogue members fall in line with their…